How to Read a Bubblemap: Spotting Wallet Clusters in Seconds
A bubblemap shows a token's holders as bubbles and links the wallets that are connected. Learn how to read one and which patterns signal insider control.
TRENCHSCORE RESEARCH··3 MIN READ
A holder list tells you how much each wallet holds. A bubblemap tells you who is really behind them. It draws each large holder as a bubble sized by its share of supply and links wallets that are connected on-chain — so ten "independent" wallets owned by one insider show up as one tight cluster.
//The basics
- Bubble size = share of supply held.
- Lines between bubbles = an on-chain relationship, such as one wallet funding another or tokens moving between them.
- Clusters = groups of linked wallets that are likely controlled by the same entity.
- Colour usually separates clusters from each other and from unconnected holders.
On TrenchScore, the bubblemap sits on every token page next to the top holders list, with each cluster's combined share shown alongside it.
//What a healthy map looks like
Many bubbles of different sizes, mostly unconnected, and no cluster holding a large share. The biggest bubbles are labelled as the liquidity pool, burn address or lockers — wallets that aren't going to sell. See how to read top holders for which wallets to set aside.
//Warning patterns
One big cluster
A tight web of linked wallets that together hold 15%, 30% or more of supply. Treat the whole cluster as a single holder. If one wallet holding that much would scare you, the cluster should too.
A ring of identical bubbles
Dozens of similar-sized bubbles all linked to one funder. This is the signature of a bundled or sniped launch — see bundles, snipers and insider wallets.
The dev at the centre
A creator or owner wallet linked to many holders means the team distributed supply to wallets it still controls.
Links to an exchange deposit wallet
Several top holders sending tokens to the same exchange address often means they're preparing to sell — or are one entity cashing out.
//What a bubblemap can't tell you
- Intent. Linked wallets show coordination, not motive. Some teams spread treasury tokens across wallets for legitimate reasons — they should say so publicly.
- Everything off-chain. Wallets funded through exchanges or mixers may look unconnected even when they're not.
- The future. A clean map today doesn't stop someone buying a large share tomorrow.
//Reading it in 30 seconds
- 01Ignore labelled pools, burns and lockers.
- 02Find the largest cluster. What's its combined share?
- 03Is the creator or owner wallet part of it?
- 04Are there rings of similar-sized wallets?
- 05Cross-check with the holder list: are those wallets buying, holding or selling?
//Bubblemaps on TrenchScore
On Solana, TrenchScore builds clusters from wallet-network data, shows insider-linked wallets, and feeds cluster concentration into the holder health pillar of the TrenchScore. On EVM chains, the map shows the top holders with their labels; wallet clustering for EVM is on our roadmap. Paste any contract into the search bar to see a token's map.
//Frequently asked questions
What does a bubblemap show?+
It shows a token's largest holders as bubbles sized by their share of supply, and draws links between wallets with on-chain connections, revealing clusters that are likely controlled by the same entity.
Is a cluster on a bubblemap always a scam?+
No. Clusters show coordination, not intent. But a large cluster can sell like one whale, so treat its combined share as one holder when judging risk.
// Sources
Educational content, not financial advice. Crypto assets are highly risky and most new tokens lose most of their value — always do your own research.