Why is Midnight (NIGHT) up 33.52% Today, July 22, 2026? Exchange Controls Trigger a Fragile Relief Rebound

NIGHT surged after Midnight Foundation stated the Wanchain Cardano-to-BNB bridge incident was isolated to third-party infrastructure and did not compromise Midnight's core network. Precautionary exchange restrictions and wallet blacklisting reduced near-term liquidation pressure, supporting a relief rebound with elevated turnover. However, absence of a final root-cause report and incomplete operational normalization keeps event risk high and volatility likely to remain incident-driven.