Crypto exchange Binance has partnered with blockchain data platform Bubble Map to provide users of its non-custodial Web3 wallet with further insight into possible insider trading and token manipulation.
According to Wednesday’s announcement shared with Cointelegraph, the integration aims to add a “layer of transparency” to the Binance experience by allowing millions of Binance Web3 Wallet users to utilize Bubblemaps’ blockchain data visualization tool to view token distributions and on-chain wallet clusters.
Binance aims to help traders identify insider trading activity and other coordinated market behavior by analyzing token circulation patterns.
“As more traders and activities move on-chain, the need for accessible and transparent blockchain data continues to grow. The integration of Bubble Map into Binance Wallet is part of this effort to provide users with clear insights and help them make better-informed trading decisions,” said Winson Liu, Binance Wallet Leader.
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Bubble Map has previously helped identify insider token sales and suspicious team wallet activity surrounding popular celebrity-endorsed meme coins, such as US First Lady Melania Trump’s MELANIA token.
On April 7, Bubble Map revealed that the team behind the MELANIA token moved $30 million worth of community funds that were “secretly sold without any explanation from the team.”
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Cryptocurrency trading requires more data transparency
The growth of the on-chain economy has created a need for more transparent blockchain data for crypto traders, writes Bubblemap CEO Nicolas Weimann, adding:
“This integration marks an important step in our mission to make blockchain transparency available to everyone.”
Bubblemap transforms blockchain data into intuitive visual clusters, where wallets are represented as bubbles interconnected with other entities based on their transaction history.
Traders use this tool to identify potential anomalies, such as a high concentration of tokens bundled in the same entity, which may be a sign of insider activity.
The partnership comes five months after Bubble Maps launched Time Travel, a tool designed to detect insider activity related to the growing meme coin scam.
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