Midnight Surges on Morpho DAO Catalyst
Midnight (NIGHT) surged 3.1% over the last ~36 hours, driven mainly by Morpho DAO's integration catalyst.
The Morpho DAO update reported that its vaults, holding roughly $5 billion in deposits, will allocate funds to Midnight markets starting in Q4 2026.
This means curators of those vaults can direct a portion of that capital into Midnight lending markets, potentially boosting TVL, lending liquidity, and protocol revenue for the Midnight ecosystem.
The news sparked a sharp price and volume spike, followed by speculative trading and profit taking that pulled back part of the gains.