According to @CryptoMichNL, Arbitrum’s TVL surged roughly 70% year over year to a $3.8 billion peak before the Oct 10 drawdown, while transaction counts continued to rise, indicating strengthening on-chain activity; source: @CryptoMichNL, Dec 7, 2025. He adds that ARB is printing new lows even as Arbitrum remains the most dominant ETH Layer 2 by TVL, suggesting broad altcoin mispricing that could present a trading opportunity; source: @CryptoMichNL, Dec 7, 2025. From a technical perspective, he highlights a strong bullish divergence and projects a potential 300–400% upside move for ARB toward a fairer valuation, which traders may watch for reversal confirmation; source: @CryptoMichNL, Dec 7, 2025.