Cardano has recently staged a rebound and re-entered the global top 15 cryptocurrencies by market capitalisation.

On July 3, The Crypto Basic reported that Cardano has shown a strong recovery in recent days, lifting its ranking to 13th after slipping as low as 18th.

The rebound comes after several weeks of weakness. Cardano fell to $0.1387 last week under heavy selling pressure, marking a multi-year low. As market sentiment shifted, Cardano posted a relatively strong gain in the latest rebound phase.

The price climbed from the recent low of $0.1387 to $0.1912. As of now, Cardano is up 0.26 percent over 24 hours and 34.01 percent over the past seven days. The rebound has partly restored investor sentiment, and its market-cap ranking has also recovered quickly.

It rose in the rankings by overtaking major cryptocurrencies in succession. Over the past two days, Cardano has moved back into the top 15 by surpassing Canton (CC), Chainlink (LINK) and Monero (XMR). Its market value is now about $6 billion, placing it 13th globally.

The gap with higher-ranked assets is also narrowing. Cardano is now less than $800 million behind Stellar (XLM) by market value, and about $1.38 billion behind Zcash (ZEC) in 12th place. That leaves room for Cardano to move up another spot if the rebound continues.

Markets are watching whether Cardano can return to the top 10. Cardano entered the top 10 during the 2021 bull market and once rose as high as third by market capitalisation. Expectations are also growing that, if the rebound continues, it could again aim for those levels.

Amid this trend, Cardano supporters are again citing remarks by founder Charles Hoskinson (찰스 호스킨슨). Hoskinson has repeatedly described Cardano as his "life's work" and has said he will stay committed to its long-term success. He has also argued the network has the potential to become the largest cryptocurrency by market capitalisation.

Hoskinson viewed ongoing support and participation from the broader Cardano community as necessary for such goals to be realised. He mentioned that, if the right conditions are in place, Cardano could compete with bitcoin for the top spot on CoinMarketCap. For now, market attention is focused on whether the recent rebound will be limited to a short-term recovery or lead to a return to the top 10.

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