Bithumb Halts Gravity (G) Transactions Amid Network Issues

VADODARA, February 10, 2026 — South Korean exchange Bithumb suspended all Gravity (G) deposits and withdrawals. The move followed network instability. This latest crypto news highlights operational risks during volatile periods. Market structure suggests isolated liquidity events can trigger cascading sell-offs.

Investigation: Bithumb's Gravity Transaction Freeze

Bithumb announced the suspension at 11:55 p.m. UTC on February 9. The exchange cited network issues. According to the official statement, deposits and withdrawals for Gravity (G) are temporarily halted. No estimated restoration time was provided. The exchange's action follows standard protocol for asset security. On-chain data indicates irregular transaction finality on the Gravity network preceding the announcement.

Bithumb ranks among South Korea's top three exchanges by volume. Gravity (G) is a cross-chain interoperability protocol token. The suspension affects only Bithumb users. Other exchanges continue normal G operations. However, Bithumb's market share creates a localized liquidity vacuum. This often leads to price dislocations.

Market Context & Historical Precedent

Exchange suspensions frequently precede sharp volatility. Historically, similar events during bearish phases amplify sell-side pressure. In contrast, bull markets often absorb such shocks. The current environment features extreme fear. The Crypto Fear & Greed Index sits at 14/100. This indicates maximum risk aversion.

Consequently, even minor operational halts can trigger disproportionate reactions. Market analysts note parallels to 2022 exchange outages. Those events accelerated capitulation phases. Underlying this trend is fragile retail sentiment. Institutional accumulation often continues unabated. For instance, recent data shows Bitcoin sell-offs driven by early investors as institutions accumulate.

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Technical Architecture & Price Action

Gravity's network issues likely relate to consensus mechanism instability. The protocol uses a delegated Proof-of-Stake (dPoS) variant. Network halts can indicate validator coordination failures. According to Etherscan data, block production slowed significantly before Bithumb's announcement.

Price action shows G testing a critical Fibonacci 0.618 retracement level at $0.85. The 50-day moving average provides dynamic resistance near $1.10. RSI readings hover at 38, indicating neutral momentum with bearish bias. A break below $0.85 could target the 2025 low of $0.62.

Market structure suggests this event created a Fair Value Gap (FVG) on lower timeframes. This gap may act as a liquidity magnet. Order block analysis identifies $0.92 as a prior support-turned-resistance zone. Volume profile shows weak buying interest below this level.

By The Numbers

Why It Matters

Exchange suspensions test market resilience. They expose dependency on centralized infrastructure. For Gravity, network instability threatens its core value proposition of cross-chain interoperability. According to Ethereum.org documentation, robust network uptime is non-negotiable for DeFi primitives.

Institutional liquidity cycles prioritize operational reliability. Events like this can trigger re-evaluations of asset allocations. Retail market structure often overreacts to short-term halts. This creates buying opportunities for disciplined capital. The 5-year horizon demands scrutiny of protocol-level robustness.

Expert Commentary

Exchange halts during fear phases act as liquidity traps. They force weak hands to sell into illiquid markets. Gravity's network issues require transparent post-mortem. Otherwise, trust erosion could be permanent. Historical cycles suggest these events separate robust protocols from fragile ones.

— CoinMarketBuzz Intelligence Desk

Market Outlook & Price Scenarios

Two data-backed scenarios emerge from current market structure.

• Bullish Invalidation Level: $1.10. A sustained break above this 50-day moving average resistance would negate the bearish structure. It would indicate network resolution and renewed institutional interest.
• Bearish Invalidation Level: $0.85. A daily close below this Fibonacci support confirms breakdown. It targets the $0.62 yearly low, representing a 27% decline from current levels.

The 12-month institutional outlook hinges on Gravity's technical response. Protocol teams must address network instability decisively. Regulatory clarity, such as potential progress on the CLARITY Act, could provide tailwinds. However, near-term price action likely remains choppy.