The market may certainly be looking a bit better right now, but there is something perhaps more important to keep an eye on. On-chain ‘vaults’, designed to provide more stable, transparent returns, are becoming one of the fastest growing products in the industry.
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According to industry data, assets are locked in crypto vaults have crossed $6 billion. Bitwise now expects this figure to double by the end of 2026, with rising demand for returns on stablecoins.
In a market where prices have lagged behind those of traditional assets, investors seem keenly focused on delivering predictable returns.
Vaults work by pooling user funds into smart contracts that deploy capital in various credit or trading strategies, all on-chain and non-custodial.
Revolut’s banking model goes global
Revolution has taken a big step outside Europe, with the official launch of full banking activities in Mexico. This is the first bank located outside the region. Fintech is aggressively pushing into fast-growing, underbanked markets, where digital banking still faces limited competition.
To enter Mexico, Revolut obtained a full banking license through direct application, becoming the country’s first independent digital bank to do so. The unit is capitalized at more than $100 million, more than double the legal minimum.
The license allows Revolut to offer high-yield savings accounts, currency services, investments in more than 30 currencies and international money transfers.
Mexico is likely to be a testing ground for Revolut’s broader ambitions. The company is pursuing a full banking license in Peru and plans to roll out a payments platform in India. With more than 70 million customers worldwide, Revolut aims to reach 100 million daily active users in 100 countries.
Is crypto falling out of favor?
In the past 12 months almost every major asset class has delivered positive returns, except crypto. Silver is up a whopping 267%, gold is up 84%, copper is up 38%, and even stocks like the Nasdaq and the S&P 500 are solidly higher.
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Bitcoin, on the other hand [BTC] is down 14%, Ethereum [ETH] is down 8%, the total crypto market capitalization is down 14%, while altcoins are down almost 50%.
Source: Google Trends
So where is the focus shifting? Google Trends data from the past week shows strong global interest in gold and silver, while searches for crypto remain largely flat.
Source: Santiment
Social data from Santiment supports this. January started quietly as traders returned from holidays. Then gold stole the spotlight with sky-high numbers, followed by a spike in interest in Bitcoin as prices fell.
That coincided with another crypto sell-off. Most recently, silver took center stage, rising above $117 before bouncing back to near $102 within hours as retail FOMO peaked.
The retail industry chases what moves the fastest. At the moment that is not crypto.
Final thoughts
- As crypto prices lag, capital is moving towards safer on-chain returns, with vault assets already above $6 billion.
- Retail attention is shifting from crypto to gold and silver.