# THORChain (RUNE): fees, revenue multiple and fair price

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

THORChain ranks #18 of 59 chains by revenue multiple. The market values it at $211M FDV against $191K of yearly network fees, 1,105×, still below the median. Priced like the median chain, RUNE would trade at $1.41 (+136%). Some days are missing fee data, so the yearly figure is estimated from the days available.

For comparison, THORChain is 1.1× cheaper than Ethereum (1,268×) and 16× cheaper than Bitcoin (18,076×).

| Metric | Value |
|---|---|
| Undervalued rank | #18 of 59 |
| Type | L1 |
| Token | RUNE |
| Price | $0.5954 |
| FDV | $211M |
| Market cap | $196M |
| Yearly fees (90d, annualized) | $191K |
| Revenue multiple (FDV/Fees) | 1,105× |
| Fair price (median revenue multiple) | $1.41 (+136%) |
| Transfer fee | — |
| Average transaction fee | — |

## FAQ

### Is THORChain undervalued?

By its fees, yes. THORChain trades at a revenue multiple of 1,105×, 2.4× below the median chain, and ranks #18 of 59 most undervalued.

### How much does THORChain earn in fees?

$191K 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 RUNE be worth at a fair revenue multiple?

$1.41, +136% from $0.5954 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