How does it work?
Last updated
Last updated
Select a token (name or contract address) — for example $SHIB
Explore the bubble map of $SHIB:
Each bubble represents a top $SHIB holder (ranks #1 to #250).
The size of the bubble reflects the amount of $SHIB it holds.
Links between bubbles indicate blockchain transfers.
Large clusters (connections between multiple holders) may reveal patterns worth investigating
When you open the bubble map of a token (e.g. UNI), it shows the 250 top holders of this token as 250 bubbles (1), (2). So each bubble represents a current holder, and the larger the bubble, the more tokens they hold.
Some bubbles are hidden by default if they belong to contracts or exchanges since the focus is on connections between genuine holders, not contracts. You can still reveal them by clicking the eye button next to them
Note: Addresses with very high transaction volume (like hot wallets) are labeled as Supernodes. Some features are limited for these nodes to keep things running smoothly. For example, you can’t open the full transfer table for them, and even if two super nodes are connected, they won’t show links on the map to avoid heavy computations.
When you click on a bubble (4), a window opens displaying details about the address (5)
The % of the supply it holds
The amount of tokens
The $ value
If the address is part of a cluster, the window also provides aggregated information about the cluster
If two bubbles are linked, it means there has been an on-chain transfer between those holders. In V2, these transfers can involve any token and, in some cases, even cross-chain transfers. To examine a specific link and see how two holders are connected, click on the IN/OUT (6) menu. This will show transfer details, including all tokens transferred and the dates of the last transfer.
If you want to filter links, click on “All Tokens” (7) to open the "Transfers & Tokens" menu (8), where you can filter which transfers to display. By default, all transfers between holders are shown, but you can choose to display only specific token transfers (e.g. USDC, USDT, ETH, AAVE, LINK...) or a mix. You can also filter transfers by amount (9), showing only those above or below a certain $ value.
So when bubbles are linked and form clusters, it means they have sent funds to each other. And if they’re connected, the key question is—why? Is it an employer paying an employee, a VC receiving tokens, or someone trying to cover their tracks?
This is where the fun begins!
With Bubble Maps V2, we’ve worked to make the data as close to real-time as possible. When you open a bubble map, it’s guaranteed to have been refreshed within the last six hours. This ensures an up-to-date experience, though there may still be some delays, especially for newly launched tokens. You can check the exact time the map was last computed on the top island (10). And with Bubblemaps V2, you can also rewind and explore past token distributions using the Time Travel feature (see dedicated tab).
If you want to share your bubble map with others, use the permalink button (11). This will share the map exactly as you see it on your screen. Any adjustments—like enabling Magic Nodes, filtering transfers, changing dates, or adding/hiding addresses—will be saved and included in the link. If you haven’t made any changes and just want to share the default bubble map, simply copy the URL. This will display the standard map without any custom settings.
To export all the addresses from a bubble map—including Magic Nodes or manually added ones—use the export button (12) to download them as a spreadsheet.
