In early Could 2022, UST’s value deviated from the $1 peg and traders began to flee from Anchor, which was the principle driver for UST’s demand. Steps to get well the peg proved to be short-lived, and UST misplaced its value peg throughout the week of Could 9, 2022 once more, finally falling to pennies. UST’s collapse and the financial institution run on Anchor drove the unique LUNA right into a hyperinflationary cycle and the token’s value fell to cents.
