Crypto Exchange Binance is working with blockchain data platform bubblemaps to give non-custodial Web3 wallet users greater insight into potential insider trading and token manipulation.
The integration will allow millions of Web3 Web3 users using Bubblemaps’ blockchain visualization tool to view token distribution and onchain wallet clusters, aiming to add “layers of transparency” to the Binance experience, according to a Wednesday announcement shared with cointelegraph.
Binance aims to help traders identify insider trading activity or other coordinated market behavior by analyzing a token’s distribution pattern.
“As more traders and activities move onchain, the demand for accessible, transparent blockchain data continues to grow. The integration of bubblemaps into Binance Wallet is part of this effort to provide our users with a clear view, helping them make better trading decisions,” said Winson Liu, head of Binance Wallet.
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Bubblemaps previously helped identify insider token sales and suspicious wallet activity surrounding popular celebrities, including the Melania Melania Melania Melania (Melania) token.
On April 7, Bubblemaps reveal that The team behind the Melania Token moved $30 million worth of community funds that were “quietly sold, with no explanation from the team.”
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Crypto trading needs more data transparency
The growing onchain economy has created a need for more transparent blockchain data for crypto traders, writes Nicolas Vaiman, CEO of Bubblemaps, adding:
“This integration marks an important step in our mission to make blockchain transparency accessible to everyone.”
Bubblemaps transform blockchain data into intuitive visual clusters, with wallets represented as bubbles that are interconnected with other entities based on their transaction history.
Traders use the tool to identify potential anomalies, such as a high concentration of tokens bundled in the same entity, which could be a sign of insider activity.
The collaboration comes five months after bubblemaps Time travel launcheda tool designed to help detect insider activity related to the growing memecoin scams.
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