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Bubblemaps is a blockchain analytics platform that visualizes onchain data as interactive bubble maps.

Bubblemaps is a blockchain analytics platform that visualizes on-chain data using interactive bubble maps. The platform allows users to examine token-holder distributions, wallet connections, and token activity across supported blockchain networks.^[1][2]

Bubblemaps is a private company headquartered in Paris, France. It was founded in 2022 by Nicolas Vaiman and Léo Pons.^[3]

The platform supports multiple blockchain networks: Solana, BNB Chain, Ethereum, HyperEVM, Robinhood Chain, Base, Arbitrum, Avalanche, Polygon, Tron, TON, Monad, Sonic, and Aptos.^[4]

Bubblemaps was founded in late 2022 by Nicolas Vaiman and Léo Pons. Arnaud Droz was an early member of the company and served as its chief operating officer. At the time of its 2023 seed funding announcement, Bubblemaps was based in Paris.^[5]

Before Bubblemaps, Nicolas Vaiman and Léo Pons co-founded Cryptonavia, a cryptocurrency data aggregator. Vaiman previously worked as a consultant at Ekimetrics.^[6]

The platform was developed to make blockchain data more accessible through visualization. Rather than presenting blockchain data primarily through conventional block explorers, Bubblemaps represents wallet addresses and their relationships graphically, allowing users to identify patterns and connections in token activity. The company has described its goal as making blockchain data easier to understand.^[7][8]

Bubblemaps launched in 2022. By September 2023, the platform supported seven blockchain networks: Ethereum, BNB Chain, Fantom, Avalanche, Cronos, Arbitrum and Polygon. The company was also in discussions about adding support for Base, TON and Aurora.^[9] Bubblemaps also integrated its visualizations into platforms including DEX Screener and DEXTools.^[10]

Bubblemaps expanded its coverage to additional blockchain networks during 2024 and 2025, including Solana, Base, Tron, Sonic and TON. Bubblemaps V2 entered a beta phase in November 2024 and was publicly launched on 29 May 2025. The public release introduced new analytical features, including Magic Nodes and Time Travel.^{[11][12][13][14]}

Bubblemaps introduced its native cryptocurrency token, BMT, on 11 March 2025. The token has a total supply of 1 billion BMT and was issued on Solana and BNB Chain. BMT was subsequently listed on cryptocurrency exchanges including Kraken, Bybit, and Binance.^{[15][16][17][18]}

BMT was developed as the native utility token of the Bubblemaps platform. Its planned uses included access to platform features and participation in the Intel Desk investigation platform, including voting on investigations and rewards for contributors.^[19][20]

On 23 September 2025, Bubblemaps launched Intel Desk, a platform intended to support community-driven investigations of scams, suspicious token launches and other on-chain activity. Users can submit cases for investigation and contribute research, while BMT is used as part of the platform's reward system.^[21][22] Bubblemaps allocated approximately 30 million BMT, equivalent to 3% of the token's total supply, for rewards during Intel Desk's first year. The rewards were to be distributed through seasonal airdrops to contributors whose work had the greatest impact on selected investigations.^[23]

The core feature of Bubblemaps is its interactive bubble map, which displays token-holder information visually. Each bubble represents a wallet, with its size corresponding to the percentage of the token supply held. Connections between bubbles represent blockchain transfers between wallets.^[24]

Magic Nodes is a feature introduced with Bubblemaps V2 that adds intermediary wallet addresses to a bubble map. These addresses may not appear among a token's top holders but can connect multiple wallets or clusters. By displaying these additional addresses, Magic Nodes can reveal relationships between wallets that may not be visible in the standard map view.^[25]

Time Travel is a feature of Bubblemaps V2 that allows users to view the historical distribution of a token's holders. Users can examine how a token's bubble map appeared at earlier points in its history and track changes in token ownership and relationships between wallet addresses over time. This allows users to compare the distribution of tokens at different points in time and examine changes in wallet activity.^[26]

Intel Desk is a community-driven investigation platform integrated with Bubblemaps. Users can submit cases concerning suspicious cryptocurrency activity, while BMT holders can vote on which cases should receive greater attention. Investigators can contribute research to selected cases, with their contributions ranked according to their impact on the investigation.^[27] Each case is presented as a collection of findings from contributors, including material originally posted on social-media platforms. Intel Desk organizes these contributions around individual cases so that users can follow the development of an investigation and the findings contributed by different investigators.^[28]

Bubblemaps provides an iframe integration that allows third-party websites and applications to embed its bubble maps. Its Data API gives developers direct access to Bubblemaps data, including token holders, transfers and clusters.^[29][30]

As of 2026, Bubblemaps supports analytics across more than ten blockchain networks, including:

• Ethereum
• Solana
• BNB Chain
• Base
• Tron
• Polygon
• Avalanche
• TON
• Arbitrum
• Sonic
• Aptos
• Monad
• HyperEVM
• Robinhood Chain

^[31]

Bubblemaps has been used as a primary tool in a number of high-profile on-chain investigations that attracted significant media coverage:

HAWK token (2024): In December 2024, Bubblemaps analyzed the HAWK token, a cryptocurrency associated with internet personality Haliey Welch. Bubblemaps reported that approximately 96% of the token supply was concentrated in a cluster of connected wallets shortly after the token's launch.^[32][33] The token subsequently experienced a sharp decline in value, falling by more than 90% shortly after its launch.^[34]

LIBRA (2025): In February 2025, Bubblemaps published an analysis of the LIBRA token, a Solana-based cryptocurrency endorsed by Argentine president Javier Milei. Bubblemaps reported on-chain connections between wallets associated with the LIBRA and MELANIA tokens and said the findings suggested that the same entity or team was behind both projects.^[35][36] The analysis identified a Solana wallet that had accumulated funds through early trading of MELANIA and later transferred them to an Avalanche wallet linked to the creator of MELANIA. Bubblemaps said that wallet subsequently funded a wallet it identified as the main creator wallet for LIBRA, which it said provided evidence of a connection between the two projects.^[37][38]

Polymarket and Iran-related bets (2026): In February 2026, Bubblemaps investigated trading activity on prediction-market platform Polymarket involving bets on military actions against Iran. The firm identified six accounts that had collectively earned approximately $1.2 million from bets on the ousting of Iranian Supreme Leader Ayatollah Ali Khamenei. Bubblemaps reported that most of the accounts had been funded within the preceding 24 hours and had placed bets on the February 28 strikes only hours before they occurred.^[39] The February investigation drew attention from U.S. lawmakers. Senator Chris Murphy responded to Bubblemaps' report by calling for legislation to restrict prediction-market wagers on military actions, while Representative Mike Levin called for greater transparency and oversight.^[40][41] In March 2026, Bubblemaps separately analyzed a Polymarket trader whose bets on U.S. and Israeli military actions involving Iran had generated approximately $967,000 in profit. The analysis identified linked accounts and found an 83% overall win rate, rising to 93% for bets exceeding $10,000, with several successful bets placed shortly before major military actions. Todd Phillips, a finance professor at Georgia State University and former member of a Commodity Futures Trading Commission advisory board, told CNN that the trading pattern identified by Bubblemaps raised “red flags”.^[42]

Intel Desk cases: Since its launch in September 2025, Intel Desk has hosted community-driven investigations into cryptocurrency projects and on-chain activity. One case concerned the launch of NYC Token, a cryptocurrency promoted by former New York City mayor Eric Adams. The case rose to the top of Intel Desk's community-voting system, prompting a Bubblemaps investigation. Bubblemaps identified unusual transaction patterns around the token's launch, including large movements of liquidity shortly after the token reached a peak valuation of approximately $580 million. The token's value subsequently fell sharply, prompting allegations of a “rug pull”, which the company behind the project denied.^[43] Another Intel Desk investigation concerned the RIVER token. Bubblemaps reported that a cluster of more than 2,000 wallets was directly linked to the RIVER team. According to the company's analysis, the team had raised $12 million to develop the project, while seven addresses later withdrew approximately $230 million in RIVER from the Bitget exchange; one of the wallets subsequently distributed 400,000 RIVER across hundreds of addresses.^[44]

Bubblemaps has been used by cryptocurrency traders, analysts and researchers to examine token distributions and on-chain activity. In September 2025, The Block reported that Bubblemaps claimed approximately 300,000 monthly active users.^[45]

The platform's investigations have also received coverage from mainstream and cryptocurrency-focused news organizations. In March 2026, CNN reported on Bubblemaps' analysis of a Polymarket trader whose bets on U.S. and Israeli military actions involving Iran had generated nearly $1 million in profit. CNN interviewed Bubblemaps chief executive Nicolas Vaiman and independent experts about the trading pattern, including Todd Phillips, a finance professor at Georgia State University and former member of a Commodity Futures Trading Commission advisory board.^[46]

• Official website
• Official platform
• Intel Desk investigation platform