Just see it yourself

Eff.M.Cap (total price of all $VVV staked and receiving revenue) follows the revenue.

Now it seems overvalued (m.cap -> UP, rev -> declining)

Multiplier was 2.5-3.5x when the rally started, now it is 13.6x (30D).

It means that today $VVV is 4x more expensive in terms of future revenue price that it was in Dec-Jan (and 14x more expensive in terms of spot USD-per-token price)