Cardano's (ADA) token has seen a significant increase in value, with a 40% gain in the past week and a 76% increase over the past month. The total value locked (TVL) in Cardano-based DeFi projects has surpassed its March 2022 peak, reaching $430.36 million. The growth is attributed to the performance of lending protocol Indigo and on-chain exchange Minswap, as well as the Djed stablecoin. Analyst Jason Appleton, also known as Crypto Crow, predicts that Cardano could become the most valuable altcoin at market peak. On-chain analytics firm Santiment noted a drop in small ADA wallets before the rally, suggesting a potential price turning point.