How Bubblemaps Identifies Token Holding Clusters
The key to identifying token holding clusters on Bubblemaps is to check whether multiple small bubbles are connected by fund flows into a large cluster, and then use the "Magic Nodes" feature to uncover hidden connections between them. The visual map makes clusters obvious at a glance—usually appearing as a main wallet surrounded by multiple associated addresses, or several wallets that appear independent but share highly similar behavioral patterns and are grouped together.
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Step 1: Understand the Basic Rules of the Bubble Map
When you open Bubblemaps, you see a visual map:
Each bubble represents a wallet—the larger the bubble, the more tokens that wallet holds.
Connecting lines indicate token transfer relationships—thicker or denser lines mean more frequent interactions.
Automatic filtering: Contract addresses and exchange wallets are hidden by default to avoid interference.
The default display of the top 150 holders is sufficient to capture the vast majority of cluster structures.
Step 2: Search for the Target Token and Observe Whether the Map Shows "Clustering"
Go to Bubblemaps (bubblemaps.io) and click "Launch App".
Select the blockchain where the target token lives (supports Ethereum, Solana, BNB Chain, Tron, Base, Polygon, and more).
Enter the token contract address or ticker in the search box and wait for the map to load.
Key observation point: Look at whether the bubbles are evenly distributed across the map, or clustered together in a specific area. If multiple small bubbles are clearly gathered and lines are densely connected to one or a few core wallets, this is a potential "cluster".
Step 3: Use "Magic Nodes" to Reveal Hidden Connections
This is the most essential feature for identifying hidden clusters. Many insider teams avoid letting associated wallets transfer directly to each other, instead using a "middleman" or a shared funding source to stay connected.
The role of Magic Nodes: By identifying shared transfer behaviors, time patterns, or funding sources, they automatically group wallets with similar behavior—even if those wallets have never directly interacted with one another.
How to do it:
Find and enable the "Magic Nodes" feature on the map interface.
The system will automatically mark addresses with similar behavior patterns in the same color.
Observe which colored bubbles are concentrated in the same area, forming "color patches"—this often points to multiple addresses controlled by the same entity.
Typical case: When the LIBRA token launched, Bubblemaps used Magic Nodes to discover that 82% of the supply was concentrated in a single wallet cluster. Insiders manipulated the liquidity pool through linked addresses, ultimately resulting in $107 million being withdrawn.
Step 4: Use "Time Travel" to See How the Cluster Was Formed
A snapshot from a single point in time may not reveal anything suspicious, but adding the time dimension exposes a lot about the cluster's "growth process."
How to do it:
Click the calendar icon in the top right corner of the map to enter Time Travel mode.
Drag the timeline back to the token's launch period (or another key moment).
Observe how tokens were dispersed from a small number of initial addresses—if a large number of tokens are suddenly distributed to multiple "new wallets" within a short time, and those wallets later act in coordination, you can be fairly certain those addresses belong to the same cluster.
Case Studies: What Do Clusters Look Like?
MYX Airdrop Incident: Bubblemaps tracked 100 freshly funded wallets that claimed $170 million worth of tokens from the MYX airdrop. By tracing the fund flows, these seemingly independent wallets ultimately linked back to a single creator address, forming a massive claiming cluster.
MYSTERY Token: Around 90 wallets grabbed 90% of the supply at launch and then continuously dumped for over $100,000 in profit. Bubblemaps called it a "textbook scam"—a classic bundled-distribution cluster.
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How to Confirm Your Identification Is Correct
Verify your findings with the following three questions:
Are the bubbles in this group consistent in color (marked by Magic Nodes) or physically clustered together on the map?
Do their funds come from the same source address, or did they receive the same amount of initial funding within a short timeframe?
Do they exhibit similar trading behavior patterns (e.g., buying or selling the same token at the same time)?
If the answer to all three questions is "yes," you have most likely identified a genuine holding cluster. The next step is to use that information to make a judgment—if the team controls an overly high proportion, you need to be alert to potential dump risks.
