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Injective all-time high and real returns INJ
A finance-focused Layer 1 for order-book DEXs, derivatives and cross-chain finance, built on the Cosmos SDK with weekly burn auctions.
Injective all-time highs and real returns
In dollars and pounds, before and after inflation, since Oct 2020.
+684%Injective after US inflation since Oct 202041.0% a year
Up 909% in dollars since Oct 2020. After US inflation, up 684%. Against money printing, up 711%.
In pounds, up 886%, or up 649% after UK inflation.
- $ nominal
- +909%47.0% a year
- £ nominal
- +886%46.4% a year
- Real $ (US CPI)
- +684%41.0% a year
- Real £ (UK CPI)
- +649%39.9% a year
- vs US M2
- +711%41.7% a year
- Measured from
- Oct 2020to Oct 2026, 6 years
- Injective, Real $ (US CPI)$7.911
- $ nominal$7.911
- Oct 2026, latest
Loading the chart. Every figure is also in the table below.
| Period | $ nominal | £ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Past year from Oct 2025 | +4.2% | +3.5% | –a (see note a) | +0.8% | −0.7% |
| 5 years from Oct 2021 | −27.1% −6.1% a year | −24.6% −5.5% a year | −39.8% −9.7% a year | −40.3% −9.8% a year | −33.9% −7.9% a year |
| Since Oct 2020 first month in our data | +909% 47.0% a year | +886% 46.4% a year | +684% 41.0% a year | +649% 39.9% a year | +711% 41.7% a year |
- a US CPI was not published for Oct 2025.
On month-end closes, Injective's highest price was $40.90 in Feb 2024, which is $44.15 in Oct 2026 dollars after US inflation. The latest close of $7.911 is 82.1% below the real high. The intraday record, $52.62 on 14 March 2024, is higher than any month-end close.
Cycle peaks, falls and recoveries
Month-end highs followed by a fall of 50% or more, and the high that stands today, in Oct 2026 money.
| Peak | $ then | Today's $ (US CPI) | £ then | Today's £ (UK CPI) | vs M2 today | Fall after | Back above, $ | Back above, real $ |
|---|---|---|---|---|---|---|---|---|
| Apr 2021 Cycle peak | $21.60 | $27.09 | £15.61 | £20.36 | $24.99 | −94.3% low Jun 2022 | 2 years 8 months | 2 years 8 months |
| Feb 2024 All-time high | $40.90 | $44.15 | £32.38 | £35.14 | $45.63 | −93.0% low Mar 2026 | Not yet | Not yet |
Return since our first month and since each cycle low
From the month-end close in the first column to Oct 2026.
| From | $ then | $ nominal | Real $ (US CPI) | Real £ (UK CPI) | vs US M2 |
|---|---|---|---|---|---|
| Oct 2020 First month in our data | $0.7841 | +909% 47.0% a year | +684% 41.0% a year | +649% 39.9% a year | +711% 41.7% a year |
| Jun 2022 Cycle low | $1.240 | +538% 53.4% a year | +464% 49.1% a year | +397% 44.8% a year | +492% 50.7% a year |
| Mar 2026 Lowest since the high | $2.882 | +174% | +171% | +169% | +166% |
Every month INJ closed at a new high
9 month-end closes above every earlier one
| Month | Close, $ | Today's $ (US CPI) |
|---|---|---|
| Feb 2024 | $40.90 | $44.15 |
| Dec 2023 | $35.76 | $39.05 |
| Apr 2021 | $21.60 | $27.09 |
| Mar 2021 | $12.83 | $16.23 |
| Feb 2021 | $12.20 | $15.54 |
| Jan 2021 | $9.507 | $12.17 |
| Dec 2020 | $4.048 | $5.206 |
| Nov 2020 | $1.188 | $1.529 |
| Oct 2020 | $0.7841 | $1.009 |
How these figures are worked out
Sources, inflation measures and what is left out
- Month-end closes from Binance, Oct 2020 to Oct 2026. Oct 2026 is still in progress, so its figure is the latest close rather than a month-end. Our history for Injective starts in Oct 2020, so longer windows are left out.
- Real figures divide by US CPI (BLS, via FRED) or UK CPI (ONS, joined to the ONS long-run RPI before Jan 1988) and are stated in Oct 2026 money. The M2 lens divides by the US M2 money supply (Federal Reserve, via FRED). Pounds convert at each month's GBP/USD rate.
- US CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- UK CPI is published with a lag: Oct 2026 uses the Aug 2026 figure.
- US M2 is published with a lag: Oct 2026 uses the Aug 2026 figure.
- A return of 12 months or more also shows its yearly rate. Gaps in a source are left as gaps and never filled in.
Injective at a glance
Key numbers
- Market cap $814.8m Rank 88
- 24-hour volume $194.2m
- 7 days -0.7%
- 30 days +37.5%
- Circulating supply 100.0m No maximum supply
- Risk level Low
- Listed on 3 of 5 Coinbase, Binance, Kraken
Why it sits in this zone
Injective sits in the Discount zone with a Bargain Score of 66, meeting at least three of the model's buy-side conditions (Price 85% below ATH and greed high). The all-time high of $52.62 dates from March 2024, and the price is now 85% below it. Falls of this size are common for coins after a cycle peak, though not every coin recovers from them.
What drives the score
The largest weighted part of the score is price distress, at 0.81 out of 1, while market sentiment contributes least at 0.29. It has come through one full market cycle by the model's definition, and its chance of a new all-time high is rated High. Exchange and trading tokens like this one are among the most cyclical on our list, because their fee income tracks how much people trade.
Where the cycle targets come from
The cycle targets of $55.25, $60.51 and $68.41 are anchored to the previous all-time high, because a reduced repeat of Injective's past range would not reach it, so the low scenario sits just above the old high, a 578% move from today's price.
Injective: questions people ask
What was Injective's all-time high in today's money?
Injective's highest recorded price was $52.62 on 14 March 2024, from CoinGecko's record of intraday trades. Restated with US CPI to Oct 2026, that is $56.44 in today's dollars. In pounds it was £41.64 at the time, or £44.96 after UK inflation.
On month-end closes, which is what our tables use, the peak was $40.90 in Feb 2024, worth $44.15 today. The latest price is 82.1% below the real high.
Has Injective beaten inflation since Oct 2020?
Our monthly history for Injective starts in October 2020. Since then it is up 909% in dollars and up 684% after US inflation, so it has beaten inflation over that stretch. Measured in pounds after UK CPI the figure is up 649%. Against the US M2 money supply it is up 711%.
How long did Injective take to recover from past crashes?
After the Apr 2021 peak of $21.60 it fell 94.3% by Jun 2022, and closed above the old high again after 2 years 8 months. In real terms it took 2 years 8 months. After the Feb 2024 peak of $40.90 it fell 93.0% by Mar 2026, and has not closed above that high since. In real terms it has not recovered.
These use month-end closes, so intraday highs and lows were more extreme.
How far is Injective below its all-time high?
Injective is 84.5% below its all-time high of $52.62, which it set on 14 March 2024, and its all-time low is $0.6574, from November 2020. Getting back to the high from today's price of $8.15 would take a rise of about 546%. These figures come from CoinGecko and refresh every five minutes.
What is Injective's Bargain Score?
The Bargain Score is 65.6 out of 100 (Meaningful discount). It combines the discount from the previous high, market sentiment, momentum and the coin's track record across past cycles. On our zone scale that places Injective in the Discount zone: Price 85% below ATH · greed high. This describes current conditions; it is not a recommendation.
What do the Injective cycle scenarios assume?
Low cycle target $55.25 (Previous ATH + 5% (the model’s cycle multiple lands below the previous high).). Base cycle target $60.51 (Previous ATH + 15%: a return to the previous high (the model’s cycle multiple lands below it).). High cycle target $68.41 (Previous ATH + 30% (the model’s cycle multiple lands below the previous high).). Each is the price the coin would reach if a smaller version of its past cycle repeated, not a loss case. They come from a model of past cycles and can be badly wrong.
How fearful is the crypto market right now?
The Crypto Fear & Greed Index reads 62 (Greed). Low readings mean fear, high readings mean greed. The Bargain Score uses it as one input, because past cycle lows tended to arrive during extreme fear.
What zone is Injective in today?
With a Bargain Score of 66, Injective is in the Discount zone: enough buy-side conditions line up, among them Price 85% below ATH and greed high, but not all of the strict ones the Deep discount zone needs. Rather than a recommendation, the label is a reading of where Injective's price and the wider market sit against the model's rules at this moment, and because the Fear & Greed value and the daily RSI both update at midnight UTC, just after midnight is when it is most likely to change. The 4-dot meter beside it shows where that zone sits on the five-step scale, from one dot for Expensive to five for Deep discount.
How long have Injective's past recoveries taken?
Injective has had one earlier fall of 50% or more in our price history: after its $51.85 peak in March 2024 it fell 95% and has not closed above that level since. Those are the only data points we have for this coin, which is too few to say anything reliable about the next recovery, since market conditions, supply and competition are different each cycle and some coins never regain a previous high.
What are the cycle targets for Injective?
The model starts from Injective's full range, its all-time high of $52.62 divided by its all-time low of $0.6574, which is roughly 80.0-fold. It shrinks that multiple with a decay factor, on the assumption that each cycle is smaller than the last, and applies it from the low. For Injective that reduced repeat would not reach the old high, so the targets are anchored just above it instead, at $55.25, $60.51 and $68.41, which puts the low scenario 578% above today's price. They describe what a reduced repeat of the past would look like and say nothing about whether that will happen. Cryptoassets are high risk, and you should be prepared to lose all the money you put into them.
Important information
Don't invest unless you're prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.
Cryptoassets are largely unregulated in the UK, so you are unlikely to have access to the Financial Ombudsman Service or the Financial Services Compensation Scheme if something goes wrong. Educational information only, not financial advice. Read our disclaimer.
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