Bubble Map

Interactive visualization of token holder distribution and relationships.

Spark Bitcoin Bubblemap - 16th November 2025

What is the Bubble Map?

The Bubble Map is an advanced analytics tool that provides a visual representation of how tokens are distributed among holders and reveals the transaction relationships between them. Available on every token details page, it helps you analyze holder behavior, identify coordinated groups, and assess token distribution patterns.


What It Shows

Nodes (Bubbles)

Each bubble in the visualization represents a token holder:

Feature
Meaning

Size

Percentage of total supply held (larger = more tokens)

Color

Cluster/group membership (same color = same group)

Position

Relationship to other holders (closer = stronger connections)

Gray Bubbles

Isolated holders with no transaction relationships

Lines (Connections)

Lines connect holders who have transacted with each other:

Feature
Meaning

Thickness

Strength of relationship (thicker = more transactions)

Opacity

Relationship strength (more opaque = stronger connection)

Presence

Indicates direct transaction history between addresses


Holder Clusters

The Bubble Map automatically groups holders into clusters based on their transaction patterns:

Colored Clusters

FSPKS Bubblemap - 16th November 2025

What They Are: Groups of holders who have transacted with each other

Visual Features:

  • Each cluster gets a unique color from a palette of 20 colors

  • Larger clusters indicate coordinated holder groups

  • Cluster background circle shows the full extent of the group

  • Cluster center is usually the largest or most connected holder

What They Indicate:

  • Potential teams, same user with multiple wallets, or early investor groups

  • Coordinated trading activity

  • Related wallets possibly under single ownership

Isolated Holders (Gray)

What They Are: Individual holders with no transaction relationships to other holders

Visual Features:

  • Always displayed in gray

  • Positioned separately from clusters

What They Indicate:

  • Independent investors


Interactive Features

Click & Explore

FSPKS Bubblemap - 16th November 2025

Click any bubble to see detailed holder information:

  • Full Address: Click to view complete address page

  • Public Key: Full public key identifier

  • Token Balance: Exact number of tokens held

  • Percentage of Supply: What portion of total supply this represents

  • Number of Transactions: Total transaction count

  • Cluster Membership: Which group the holder belongs to (if applicable)

  • Partners List: Other holders they've transacted with, sorted by relationship strength (affinity score)

Zoom & Pan

Navigate the visualization:

Action
How to Do It

Zoom In/Out

Scroll with mouse wheel or use pinch gesture on touch

Pan Around

Click and drag on empty space

Move Holder/Cluster

Click and drag a bubble (moves individual or entire cluster)

Reset View

Click "Reset View" button to center and fit all content

Holders List Sidebar

Click the "Holders List" button to open a comprehensive sidebar showing:

Organization:

  • All clusters listed by group

  • Isolated holders in separate section

  • Percentage of supply held by each cluster

  • Number of addresses in each group

Actions:

  • Click addresses to highlight them in the visualization

  • Eye icon (👁️) next to each address:

    • Click to hide/show specific holders from the visualization

    • Hidden holders appear in a separate "Hidden" section

    • Useful for focusing on specific relationships

  • Expand/Collapse: Show more or fewer addresses in each cluster

Token Relationship Filter

Analyze relationships based on specific trading pairs:

Default Behavior:

  • Shows relationships based on all tokens

  • Current token and BTC are selected by default

Custom Filtering:

  • Click to expand token selector

  • Select specific tokens to analyze relationships for those pairs only

  • Shows how many relationship links exist for each token

  • Select All / Clear Selection buttons for quick management

Use Cases:

  • Focus on BTC trading relationships only

  • Isolate relationships for specific token pairs

  • Compare relationship patterns across different tokens


Understanding the Visualization

Cluster Size & Position

Cluster Formation:

  • Clusters with more holders or larger total holdings appear larger

  • Each cluster has a center point (usually the largest holder)

  • Smaller holders orbit around the cluster center

  • Distance from center reflects relationship strength

Positioning Logic:

  • Related holders are pulled closer together

  • Isolated holders grouped together away from clusters

  • Layout algorithm balances visibility and relationship strength

Color Coding

Color Assignment:

  • Each cluster receives a distinct color from a 20-color palette

  • Colors help you quickly identify which holders belong to the same group

  • Isolated holders always appear in gray

  • Color consistency maintained across sessions

Purpose:

  • Quick visual identification of holder groups

  • Easy tracking of cluster membership

  • Clear distinction between clusters and isolated holders

Affinity Scores

What They Measure:

  • Transaction patterns between holders

  • Frequency of transactions

  • Significance of transactions (volume, recency)

How They're Used:

  • Determine cluster membership (high affinity = same cluster)

  • Set connection line thickness (higher score = thicker line)

  • Influence holder positioning (higher affinity = closer together)


Use Cases

For Token Analysis

Understand token distribution and holder behavior:

Analysis Goal
What to Look For

Centralization Risk

Large clusters with high % of supply

Distribution Quality

Many small isolated holders vs few large clusters

Coordinated Activity

Multiple connected wallets with similar holdings

Team/VC Holdings

Large clusters with high transaction activity

For Investment Research

Make informed investment decisions:

Positive Signals:

  • Wide distribution with many isolated holders

  • No single cluster dominates supply

  • Gradual holder growth over time

  • Mix of holders and active traders

Warning Signs:

  • Heavy centralization in one or two clusters

  • Many small wallets connected to one large holder (possible wash trading)

  • Creator holds significant supply in connected wallets

  • Sudden appearance of large coordinated clusters

For Security Analysis

Identify potential risks:

Rug Pull Indicators:

  • Large coordinated cluster holds majority of supply

  • Many small connected wallets (possible sock puppets)

  • Creator address directly connected to large holders

  • Clusters with no external transaction history

Suspicious Patterns:

  • Identical holding sizes across connected wallets

  • Synchronized trading activity

  • Circular transaction patterns

  • New clusters acquiring large amounts quickly


Related Documentation:

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