I made a ZAR stablecoin tracker
- Paul Mitchell
- 2 days ago
- 2 min read
Combining two current hot topics, I have been using Claude to do some coding. One result is this ZAR stablecoin tracker. It includes the ten stablecoins that I know and shows current supply. I will try to keep this up to date, and I hope that it will be a useful reference for those working in this field.
Some comments, and changes from my previous list:
xZAR is greyed out by default. Although it does show some transactions, it has not been audited since 2021, the team are not responding to my emails, and the R10 billion on chain supply is more likely a maximum held for issue than stablecoin supply backed by real assets. It distorts things, so I have hidden it; one click un-hides it.
I have removed CZAR since it seems to be defunct, and added LZAR, a loyalty focused project.
Total supply excluding xZAR is now about R430 million - not a lot in global terms, but significant in SA. About R300m of that is eZAR, most of it in one wallet.
There are about 35,000 holders, and the holder number per coin is a good indicator of adoption. This number is only a guide, though: it is easy to game upwards by creating lots of wallet with one owner, while a single wallet on an exchange may represent many users.
It would also be good to have the transaction volumes on here too; I am working on that one. It's trickier data to pull than supply
One thing you notice with this page is that the graph is boring. At the moment, these stablecoins, and adoption of ZAR coins generally, are in the early pilot stages. Values on chain are seeded by a small number of early customers, or are experimental. I expect this to change soon as regulations clarify and projects grow, and we will see an increase in the market cap.
Finally, there may well be mistakes here. Please let me know if you spot any, or have any other feedback, especially if you know of other ZAR stablecoins.
