One of the concerns of digital currency market investors is facing fraudulent projects. In rag money scams, project developers first inflate the token price and then steal customers’ cash. This is why Ragpool projects are called exit scams. Fortunately, there are sites that help us find out in less than a minute whether the project is a scam or not. Bubblemaps site is one of these tools that has many fans. To get to know this site, stay with us until the end of the article.
The Bubblemaps website shows the activity of the wallet owner in the form of a simple graph. In other words, everything that can be done on the Etherscan site can be done better and more easily on the Babel Maps site. Fortunately, blockchain technology has brought us a new level of transparency. Gone are the days of hiding assets or keeping transactions secret. Every token issued in the blockchain world has its own browser page.
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The Bubblemaps analytics site displays each token’s browser page information in the form of a visual graph. Each bubble represents a wallet and the size of each bubble represents the size of a volt. Bubbles are shown as connected if there is at least one transaction between each of the addresses.
Bubblemaps bubbles display the following information:
View a complete transaction cluster
The biggest wallet
Inventory per address
All transactions of one wallet with different addresses
It is not easy to analyze such data in any other analysis site and in the form of a simple graphical image like here. This site is currently able to analyze data from Ethereum, Binance Smart China, Phantom, Avalanche, Kronos, Arbiterum and Polygon networks.
For more information about the analysis on the Bubblemaps site, we would like to refer to the tweet on this page about the analysis of the wallet with SHIB tokens. In fact, we want to see how 10% of the SHIB token supply is in the hands of a few wallets, and in this particular case, is there anything to worry about? The SHIB token was released publicly on August 1, 2020 (August 11, 2019) without a presale. Anyone could buy this token at the same price. The wallet with the address 0x1406 bought a lot of SHIB tokens in the early hours of the morning. The wallet’s transaction history shows that it held 103 trillion units of SHIB tokens (ie 10% of the supply) at $38 Ethereum per Volt from August to October.
In 2021 (1400), SHIB’s market capitalization has skyrocketed to $40 billion. At the same time, the value of SHIB tokens in wallet 0x1406 reached 5 billion dollars, and the owner of this address took a bold step.
Sending 60 trillion tokens to 6 other wallets
Sending 30 trillion tokens to 6 other wallets
10 trillion tokens remaining in the wallet
Examining the historical data shows that this group of wallets have not had any buy, sell or transfer transactions in their history. Even after this migration and clustering, they remained inactive. The summary so far is as follows:
The address 0x1406 bought 100 trillion units of the token right after the release of the SHIB token.
After some time, the property value of this volt increased to 100,000 times.
The owner of the address divided his total 100 trillion tokens over 13V.
None of these wallets have had any sales transactions so far.
The address 0x1406 probably belongs to a group Volt, who initially bought 10% of the supply. Of course, usually such advertisements are common in general sales. Further to the story, when the price rises and reaches the ceiling, holding $5 billion in assets in a single currency is a risky business and comes with more risks:
Creating fear, uncertainty and certainty
Increasing the probability of encountering hacking
Therefore, the owner of this huge asset has divided the SHIB tokens into several different wallets instead of selling them. This decision shows wise management and the ability to take the right path in critical situations.
To clarify, let’s take a look at the analysis of the PEPE token on Babel Maps.
As shown in the figure, a large wallet has more than 6% of the available supply and can drive the price of PEPE to zero. Since this wallet has not yet had any known movement and transaction, there is probably no malicious intent behind it. This wallet could probably belong to one of the founders or team members. Another wallet also has a large balance and a high connection or cluster percentage. This is of course worrisome because it increases the possibility of manipulation of course through multiple addresses.
As we all know, analyzing such data is not an easy task. There are now many websites and analytics tools, each offering different features and dashboards. Meanwhile, some tools are more user-friendly and have a simple way of working. On the Bubblemaps website, even a beginner m
It can be informed about the balance and transaction history of addresses in a simple graphic.
Common questions about Bubblemaps site
1. What is the method of identifying fraud projects in digital currency?
You can check the fraud status of these projects by checking the status of the wallet and the support team.
2. What is the status of the Bubblemaps site?
The Bubblemaps website shows the wallet owner’s activity in the form of a simple graphical chart. It shows the relationship between different addresses, both for transactions and balances.