# TON (GRAM): fees, revenue multiple and fair price

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

TON ranks #39 of 59: at $5.72B FDV and $902K of yearly network fees, its revenue multiple of 6,335× sits above the median. The market is paying up for more than its fees: at the median multiple GRAM would be $0.4458 (−58.8%).

For comparison, TON is 5.0× pricier than Ethereum (1,268×) and 2.9× cheaper than Bitcoin (18,076×).

| Metric | Value |
|---|---|
| Undervalued rank | #39 of 59 |
| Type | L1 |
| Token | GRAM |
| Price | $1.08 |
| FDV | $5.72B |
| Market cap | $3.09B |
| Yearly fees (90d, annualized) | $902K |
| Revenue multiple (FDV/Fees) | 6,335× |
| Fair price (median revenue multiple) | $0.4458 (−58.8%) |
| Transfer fee | — |
| Average transaction fee | — |

## FAQ

### Is TON undervalued?

Not by its fees. TON's revenue multiple of 6,335× is above the median chain's, so it ranks #39 of 59.

### How much does TON earn in fees?

$902K a year, annualized from the last 90 days of network fees (DefiLlama).

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

$0.4458, −58.8% from $1.08 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