I determine whether a network will hold or bullish by looking at the amount of Stable coins in that network. I definitely don't look at TVL.

From where?

I minted 1 million x coins and put it in Arbitrum; Let the price of 1 x coin be 1 Dollar.

Writes $1 million TVL.

There is very little liquidity in x coin; someone dumped it, it became $0.01; TVL drops directly to $10k.

$990k did not suddenly fly in this network or this coin was not dumped for $990k.

Maybe someone made a withdrawal with 30-40k USD and it was seen as 990k USD deleted.

For that reason; The most beautiful liquid token on a network is Stablecoin. Because as long as 1 Dollar is kept in return for each stable coin minted (I'm talking about centralized ones such as USDT, USDC), no matter how much sales it receives; It will still remain at $1.

Summary: Don't look at TVL; Look how stable it is.