Coinbase: Will support the migration of ZEN tokens to the Base chain, during which deposits and withdrawals will be suspended

ChainCatcher news, Coinbase announced that Horizen is transitioning from the Layer 1 Horizen blockchain to a Base-based ERC-20 token. This upgrade is expected to take place on July 23, 2025. Coinbase plans to temporarily suspend the sending/receiving/trading functions of ZEN from July 16 to July 25 before the migration.

Coinbase also stated that it will support this migration and automatically convert ZEN tokens on Layer 1 Horizen to ZEN tokens on Base, and plans to temporarily disable the Horizen network on July 16 to carry out this upgrade.