After the value of Bitcoin fell below the price of 30 thousand US dollars in the last week, the situation has stabilized in the last 24 hours thanks to stablecoin Tether, which restored stability in the market.

Terraform Labs stopped selling Terra cryptocurrency through Blockchain after the fall of TerraUSD.

Stablecoin is any cryptocurrency created to have a relatively stable price, usually compared to any commodity, currency or a particular algorithm.

Blockchain is a system in which the data of transactions made in Bitcoin or other cryptocurrencies are kept in some systems that are connected to a network that prevents fraud in the system.

The implosion of the TerraUSD stablecoin kindled wide-spread panic in the crypto space.

But 24 hours later, things have calmed down significantly https://t.co/JZZH3GFRE9

- Bloomberg Crypto (@crypto) May 13, 2022

Tether, the largest stablecoin used in the cryptocurrency market as a cryptocurrency that facilitates trading, recovered the market from the losses it faced last week.

Meanwhile, the value of Bitcoin rose 9 percent after falling overnight, when the price of this cryptocurrency was 25 thousand dollars.

"The fact that Tether stabilized the market means that the call to marginalize the cryptocurrency market was unjustified," said Matt Maley, chief marketing officer at Miller Tabak + Co.

Maley believes that market investors will not invest for at least a few more days until the supply-demand relationship stabilizes again.

To recall, Bitcoin is the most widely used cryptocurrency in the world, but last week it suffered a huge drop in value.

The loss of digital currency value occurs as a result of the decline in other currency markets.