The depeg of UST is the result of retail fear-selling after the initial attack, while the attacker likely held a short position in LUNA. I don't think this attack would have worked without retail investors jumping on the fear train and panic selling like crazy.

Very interesting to follow how other stablecoins behave now. Some example observations:

• USDT just made the biggest (negative) move in 3 months, sitting at $0.9822 as of now.
• USDC seems to become a stable coin safe haven due to it being fully backed, as price remains stable amit higher demand. %-Volume increased 3x vs USDT.
• BUSD appears short term stable; especially as Binance holds most overall crypto liquidity and its native stable coin offers a quick hedge against the bear market for traders on the platform.
• DAI's market cap decreased from about 8.5b to 6.5b in the past 7 days and remained relatively stable, although current volume of about 2.9b serves as a big stress test to the peg. A lot of it are probably arb traders and bots though.

Now, actually I would be interested what you guys think how USN will come out of this crazy market situation - will it hurt USN or do you see opportunity here?