Guys don't buy Luna because it looks cheap right now. Arbitragers can still make money arbitraging even though the peg is lost. So Luna price keeps tanking while arbitragers make money. The only way this will stop is if the UST holders finally capitulate and sell all their UST at a huge loss. The UST marketcap needs to be less than 100m, and Luna Market Cap 1B. or something like that where the Luna market cap can hold the UST marketcap, gotta be at least 10x higher.