How much is 1 INJ?
One INJ is worth $4.85 — the INJ-to-USD rate as of 2026-08-01 19:21 UTC, +0.66% over the past 24 hours. The figure on this page refreshes hourly from CoinMarketCap data.
BAKED FROM THE HOURLY RATE AS OF 2026-08-01 19:21 UTC · NOT A LIVE CALCULATOR
INJ vs. other Layer 1 coins
| Asset | 24H | 7D | 30D | 90D |
|---|---|---|---|---|
| Injective INJ THIS PAGE | +0.66% | −3.91% | +5.30% | +29.44% |
| Bitcoin BTC | −0.75% | −2.84% | +1.68% | −20.55% |
| Ethereum ETH | −1.56% | −1.85% | +8.36% | −21.05% |
| BNB BNB | −1.89% | +1.55% | +3.22% | −6.82% |
AS OF 2026-08-01 19:21 UTC · DATA: COINMARKETCAP · DEEPER TINT = LARGER MOVE · 90D IS OUR LONGEST SNAPSHOT WINDOW
INJ price context
Injective's all-time high is $52.62, reached on March 14, 2024. At today's price of $4.85, INJ trades 90.8% below that peak. Its lowest recorded price was $0.6574 on November 3, 2020.
Over the past 30 days INJ has moved +5.30% and over the past 90 days +29.44%.
Circulating supply is 99,970,955 INJ , with no fixed maximum supply. INJ launched with 100 million tokens and has no hard cap: a dynamic mint module issues staking rewards while fee-funded burns remove supply. In practice the two have roughly offset — total supply still sits near 100 million, with about 6.96 million INJ cumulatively burned.
Injective all-time high
The gap to the record
Getting back to $52.62 from here would take a 10.8× move — that multiple, not the percentage, is the honest way to read a drawdown. The figure above updates every hour as our price snapshot refreshes; the record itself is an editorial fact recorded from CoinGecko - Injective.
All-time low
Injective's recorded all-time low is $0.6574, on November 3, 2020 (CoinGecko - Injective). From that low to today's price is the other end of the same story — aggregators differ on launch-era data, so we name the source we cite.
Injective price history
Our sourced price record for Injective begins in 2022 — the coin may have traded earlier, but we list only years we can back with a citable source. Its all-time high is $52.62 (Mar 14, 2024), its recorded low $0.6574 (Nov 3, 2020), and it trades at $4.85 today. Every row below names where its figures come from.
Injective price by year
Rows from 2022 through 2023 are editorial records — each cites the source it was taken from. Rows from 2024 onward are computed from our licensed CoinMarketCap daily data; for those years, high and low are the highest and lowest daily closes in our series, not intraday extremes.
| Year | Open | High | Low | Close | Source |
|---|---|---|---|---|---|
| 2022 | $1.56 | $3.04 | $1.22 | $1.27 | Coinbase (INJ-USD) |
| 2023 | $1.27 | $44.86 | $1.25 | $35.72 | Coinbase (INJ-USD) |
| 2024 | $35.69 | $50.32 | $15.65 | $19.68 | Our CMC data |
| 2025 | $19.46 | $25.81 | $4.46 | $4.46 | Our CMC data |
| 2026YTD | $4.19 | $7.26 | $2.79 | $4.85 | Our CMC data |
What moves Injective's price
- Burn mechanics: 60% of dApp fees funded a weekly burn auction that destroyed about 6.78 million INJ (~7% of supply) through late 2025, when a monthly Community BuyBack replaced it — commit INJ, earn a pro-rata share of ecosystem revenue, and the committed tokens are burned (about 178,000 INJ across the first four rounds). Because burns are funded by real fee revenue, ecosystem activity feeds supply reduction directly.
- INJ 3.0: the April 2024 governance upgrade tightened the inflation bounds (upper bound 10% to 7%, lower 5% to 4% over two years) and made issuance respond faster to the staking ratio — the protocol's own framing was a 400% increase in the deflation rate. There is still no hard cap; net deflation depends on fees exceeding issuance.
- The native EVM launch (November 11, 2025): Ethereum contracts now run directly on the chain alongside WebAssembly with unified assets and liquidity, shipping with 30+ dApps. Whether MultiVM converts into sustained usage is the central bull-case question.
- ETF filings: Canary Capital filed for the first US staked INJ ETF in July 2025 (ticker INJS, Cboe BZX; amended June 2026) and 21Shares filed a spot INJ ETF in October 2025. Neither is approved as of July 2026 — decisions either way are a repricing event.
- Institutional treasury flows: Pineapple Financial, a NYSE American-listed mortgage-tech firm, closed a $100 million private placement in September 2025 to build the first public-company INJ treasury, making its first purchase of 678,353 INJ (~$8.9M) in October 2025 with plans to stake the position.
- The activity debate, stated plainly: through 2023–2024 researchers questioned Injective's multibillion-dollar valuation against on-chain data — roughly seven active protocols, with the Helix exchange holding over 60% of chain TVL — and the 'ghost chain' label stuck in parts of crypto media. Defenders counter that the order-book design routes volume through the exchange module rather than locked liquidity, and that weekly burns were funded by real fees. INJ trades roughly 91% below its March 2024 high, so the market has not yet settled the argument.
“60% of dApp fees funded a weekly burn auction that destroyed about 6.”
About Injective
Injective was founded in 2018 by Eric Chen and Albert Chon and incubated by Binance Labs, with early backing from Pantera and Hashed. A 2021 private round brought in Mark Cuban at a valuation above $1 billion, the token launched via Binance Launchpad in October 2020, and the standalone mainnet went live in November 2021. In 2023 the team announced a $150 million ecosystem fund consortium with Pantera, Jump Crypto, and others.
The chain is built on the Cosmos SDK with sub-second finality and IBC connectivity, and its defining feature is finance-specific modules — most notably a shared on-chain central limit order book that exchange dApps like Helix plug into, plus modules for derivatives, real-world assets, and prediction markets. After an interim EVM rollup (inEVM) in 2024, the native EVM mainnet launched in November 2025, making Injective a MultiVM chain where Solidity and WebAssembly contracts share the same assets and liquidity.
INJ tokenomics
Genesis supply was 100 million INJ, allocated across a Binance Launchpad sale (9%), seed and private rounds (~23%), team (20%), advisors (2%), and ecosystem and community funds (~46%). Issuance is dynamic — a mint module pays staking rewards at a rate that adjusts around a target bonded ratio, with bounds narrowed by INJ 3.0 in April 2024 — while 60% of dApp fees are burned, historically via weekly auctions and since November 2025 via the monthly Community BuyBack. About 6.96 million INJ has been burned to date, and total supply remains near 100 million because burns have roughly offset staking issuance.
How to buy Injective
INJ is widely listed: Binance (its original Launchpad venue), Coinbase, Kraken, Upbit, KuCoin, and most other major exchanges, with deep USDT and USD pairs. It is also traded on Injective's own order-book DEXs such as Helix, and can be staked natively for yield.
Injective news
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Injective FAQ
Is INJ deflationary?
Conditionally. There is no hard supply cap — staking rewards mint new INJ — but 60% of dApp fees are used to buy and burn tokens, and about 7% of the original supply has been destroyed. Net deflation happens only when fee-funded burns exceed issuance, which is why ecosystem activity matters so much to the token.
What was Injective's all-time high?
About $52.62 on March 14, 2024, per CoinGecko, at the peak of that cycle's AI-and-Cosmos narrative. The token has since retraced roughly 90% from that level; the hourly-refreshed price at the top of this page shows where it trades now.
Why was Injective called a ghost chain?
In 2023–2024, researchers pointed out that despite a multibillion-dollar valuation, DefiLlama showed only around seven active protocols, with the Helix exchange holding over 60% of chain TVL. Defenders replied that Injective's order-book architecture routes activity through a shared exchange module rather than locked liquidity, so TVL understates usage, and that its weekly burns were funded by real fees. The November 2025 EVM launch, which brought 30+ new dApps, was in part an answer to this criticism.
What is Injective's native EVM?
Since November 11, 2025, Ethereum-compatible contracts run directly on the Injective chain — not on a bridge or rollup — alongside WebAssembly contracts, sharing the same assets and liquidity. Developers use standard tools like Hardhat and Foundry, with sub-second block times.
Is there an Injective ETF?
Not yet. Canary Capital filed for a staked INJ ETF (ticker INJS, Cboe BZX) in July 2025 and amended the filing in June 2026, and 21Shares filed for a spot INJ ETF in October 2025. Both were still awaiting SEC decisions as of mid-2026.
What is Injective's all-time high?
Injective's all-time high is $52.62, reached on March 14, 2024 (source: CoinGecko - Injective).
How far is INJ from its all-time high?
As of 2026-08-01 19:21 UTC, INJ trades at $4.85 — 90.8% below its all-time high. Reaching the ATH again would require a 10.8× move. This figure refreshes hourly with our CoinMarketCap data.
What was Injective's lowest price ever?
Injective's recorded all-time low is $0.6574, on November 3, 2020 (source: CoinGecko - Injective). Aggregators can differ on launch-era data; we cite the source shown.
Will INJ reach a new all-time high?
We don't publish predictions. What can be said factually: INJ trades 90.8% below its all-time high, and this page tracks that gap with hourly-refreshed data.
Related
Price data: CoinMarketCap, refreshed hourly. Last updated: August 1, 2026, 19:21 UTC. Historical figures (all-time high/low) are recorded at page creation and reviewed periodically.
This page is factual information, not financial advice.