Coinbase Launches Wrapped Zcash and Hyperliquid on Base
Zcash (ZEC)
Editor:
Eugene Serbin
bitcoinethereumnews.com reports that Coinbase has added support for two new wrapped assets, Zcash (ZEC) and Hyperliquid (HYPE), on the Base blockchain. The exchange announced that cbHYPE and cbZEC are now live, joining a roster that includes Bitcoin (cbBTC), Ethereum (cbETH), XRP (cbXRP), Dogecoin (cbDOGE), Cardano (cbADA), Litecoin (cbLTC), and MegaETH (cbMEGA). These wrapped assets are ERC-20 tokens backed 1:1 by the underlying Hyperliquid and Zcash held in custody by Coinbase.
Users can unwrap and redeem the corresponding underlying asset by depositing the wrapped token into their Coinbase accounts. The addition expands utility, allowing holders to use these assets on-chain within DeFi apps for borrowing, lending, and other activities. Coinbase warned that fraudulent actors may pretend to be cbHYPE and cbZEC, urging users to verify contract addresses.
The official Base contract address for cbHYPE is 0xB200000000000000000000451d033a5000cb479e. The official Base contract address for cbZEC is 0xB2000000000000000000008501b13360000cb2EC. Scammers often use impersonation to trick users into transferring cryptocurrency or revealing sensitive information. Users are advised to be vigilant against unofficial contract addresses or accounts claiming to represent the legitimate asset.
How the market reacted
Whalio's own Binance spot order flow for ZEC, measured when this story was written up on 2 September 2026. Not the outlet's figures.
Zcash is trading at $829.82 with a 1-hour buy ratio of 54.8%, indicating short-term buying pressure that contrasts with a lower 38.1% ratio over the past 4 hours. The 24-hour buy ratio sits at 49.0%, suggesting a balanced but slightly bearish sentiment over the longer timeframe. Volume delta shows a positive $681,030 in the last hour, signaling immediate inflows, though the 4-hour delta is negative at -$10,147,796. Over 24 hours, the volume delta is -$2,769,932, with a cumulative CVD of -$15,063,852 at close. Net buying occurred for only 9 of the 24 hours, with a total spot volume of $137,994,307 across 437,475 trades. The shift from positive 1-hour delta to negative 4-hour and 24-hour deltas suggests that initial buying interest is fading into broader selling pressure.
The latest daily buy ratio of 52.9% sits at the 82nd percentile of the last 322 days, against a median of 50.2% - stronger buying than most days.
Was that an ordinary day?
The same Binance spot measurements for ZEC, averaged over the days leading up to the story.
The current 24-hour buy ratio of 49.0% is slightly below the 7-day average of 50.1%, representing a difference of 1.1 points. Trading volume is currently at 0.85x the weekly average, indicating a quieter day than usual. Over the preceding 8 days, the price has risen by 8.1%, despite a total volume delta of -$14,249,415. Net buying was recorded for only 4 of the 7 days in the weekly period. This day is ordinary in terms of sentiment relative to the week, but volume is notably lower than the average, suggesting reduced participation.