Shanzhai Index Update, God Sync Continues 😏 The K-line chart in the figure represents the total market value of cryptocurrencies outside of the TOP10; The line chart shows M2SL/DXY data delayed by 11 weeks M2SL is the M2 money supply data released by the Federal Reserve of the United States, measured in billions of dollars. It measures the total amount of broad money circulating in an economy DXY (America Dollar Index) is an index that measures the value of the US dollar relative to a basket of six major international currencies (Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona, and Swiss Franc) M2SL/DXY is a ratio obtained by dividing the M2 money supply by the US dollar index When M2SL/DXY rises, investors may expect risk asset prices to rise, as increased liquidity and a weak US dollar lower the cost of holding non US dollar assets When M2SL/DXY declines, it may indicate that the monetary environment is tightening and the US dollar is strengthening, which may benefit US dollar assets (such as US treasury bond bonds), but it will put pressure on gold, cryptocurrency and other assets