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keel
Ledger
64,752,678
Methodology
1.0.8-draft
Age
7s

XAU against USDC — what depth stands behind this price?

All assets

XAU / USDC

GBCB…LXAU

Risk band

Critical

partial confidence

A floor: the real band can only be worse.

Max safe collateral
12.60 USDC (shortened; full value 12.6084616000026176606 USDC)Limited by manipulation cost
Depth within 5%
buy68.14 USDC (shortened; full value 68.1431231595734517478375923908 USDC)sell24.82 USDC (shortened; full value 24.8261098449909123476248698402882915626527330284 USDC)
Cost to move +50%
50.43 USDC (shortened; full value 50.4338464000104706424 USDC)Reachable through the order book
Checks
2 triggered3 not evaluated

Cost to move the price 50%

The stored series carries one manipulation rung, the +50% move. A reading the engine could not produce breaks the line rather than sitting at zero.

Higher at the end of the window than at its start

Lowest
50.42 USDC (shortened; full value 50.4275260999962215756 USDC)
Highest
50.43 USDC (shortened; full value 50.4354932000039780234 USDC)
2026-09-26T17:51:56Z — 2026-10-03T17:24:32Z
Cost to move +50%
50.43 USDC (shortened; full value 50.4338464000104706424 USDC)
169 readings from horizon, with no gaps reported. One source per chart.

Checks

What fires now, how long it has been firing across the window above, and what could not run.
Cheap to move the pricenowMANIPULATION_CHEAPthroughout
Thin depth at 5%nowTHIN_DEPTH_5PCTthroughout

Not evaluated3

  • No genuine trade in 30 days
  • No genuine trade in 7 days
  • Volume may be wash traded

Evidence

The figures behind the verdict, as the engine served them.

The ceiling is the lower of two independent limits. Which one binds is the part a lender acts on, so both are shown.

12.60 USDC (shortened; full value 12.6084616000026176606 USDC)

Limited by manipulation cost

Liquidation term
20.49 USDC (shortened; full value 20.49796529097992680582928524342763080865267993076 USDC)

Sell-side depth at the liquidation delta, times the haircut.

Manipulation termbinds
12.60 USDC (shortened; full value 12.6084616000026176606 USDC)

Order-book-only manipulation cost at the critical delta, times the safety margin.