# Injective (INJ): fees, revenue multiple and fair price

Source: Chainfees, https://chainfees.fyi/chain/injective/ · data through 2026-11-09 · rebuilt hourly.

Injective is the #9 most undervalued chain of 59. It earns $2.82M a year in network fees at a $795M FDV: a revenue multiple of 282×, 9.3× cheaper than the median chain. At the median multiple, INJ would be worth $73.58, +827% from $7.94 today. Some days are missing fee data, so the yearly figure is estimated from the days available.

For comparison, Injective is 4.5× cheaper than Ethereum (1,268×) and 64× cheaper than Bitcoin (18,076×).

| Metric | Value |
|---|---|
| Undervalued rank | #9 of 59 |
| Type | L1 |
| Token | INJ |
| Price | $7.94 |
| FDV | $795M |
| Market cap | $795M |
| Yearly fees (90d, annualized) | $2.82M |
| Revenue multiple (FDV/Fees) | 282× |
| Fair price (median revenue multiple) | $73.58 (+827%) |
| Transfer fee | — |
| Average transaction fee | — |

## FAQ

### Is Injective undervalued?

By its fees, yes. Injective trades at a revenue multiple of 282×, 9.3× below the median chain, and ranks #9 of 59 most undervalued.

### How much does Injective earn in fees?

$2.82M a year, annualized from the last 90 days of network fees (DefiLlama). Some days are missing fee data, so the yearly figure is estimated from the days available.

### What would INJ be worth at a fair revenue multiple?

$73.58, +827% from $7.94 today. That's the price at the median revenue multiple of all ranked chains.

Definitions: https://chainfees.fyi/learn/ · Methodology: https://chainfees.fyi/methodology/ · Full ranking: https://chainfees.fyi/llms-full.txt