Haseeb Qureshi, a managing partner at crypto-focused venture firm Dragonfly, says 2026 is shaping up to be a year where crypto’s long-term trends assert themselves rather than reset, even as markets deliver sharp moves in both directions.
In a Dec. 29 post on X, Qureshi outlined a wide-ranging perspective that reflects a broader investor reassessment after several volatile cycles where durability, distribution and real-world use take precedence over rapid experimentation.
Markets and blockchains
Qureshi expects bitcoin to end 2026 above $150,000 while accounting for a smaller share of the overall crypto market. He framed this combination as a sign that activity elsewhere could expand without displacing bitcoin’s role as the sector’s anchor asset.
He was more skeptical of newer, fintech-branded blockchains, arguing that recent enthusiasm is unlikely to translate into sustained use. In his view, key indicators such as wallet engagement, stablecoin flow and tokenized asset adoption will not live up to expectations.
Instead, Qureshi expects developer activity to remain concentrated on infrastructure that prioritizes neutrality and composition. Within that framework, he sees Ethereum and Solana continuing to outperform expectations even as newer networks compete for attention.
He also expects deeper corporate involvement, especially in the payments and finance sector. Qureshi predicts that at least one major tech company will either launch or acquire a crypto wallet, while additional Fortune 100 companies are implementing blockchain systems tied to banking and fintech operations. He singled out Avalanche and several rollup frameworks as platforms that could benefit from this trend.
Market structure and DeFi
In decentralized finance, Qureshi expects the market structure to evolve towards consolidation rather than fragmentation. He predicts that a small number of dominant venues will capture the majority of on-chain perpetual futures trading, with smaller platforms competing for the shrinking remainder.
He also sees product innovation reshaping trading behavior, particularly through derivatives formats and liquidity mechanisms that emphasize negotiated execution over open order books. At the same time, he warned that increasing sophistication could bring reputational risks, predicting that at least one insider trading controversy linked to DeFi would draw mainstream scrutiny.
Payments and stablecoins
Qureshi’s strongest convictions center around payment infrastructure. He expects stablecoin supply to expand sharply in 2026, while remaining predominantly dollar-denominated, even as individual issuers compete for market share.
Instead of focusing solely on issuance, he emphasized distribution, arguing that new toll rails will accelerate adoption far faster than previous cycles. In his view, these channels will play a central role in bringing stablecoins to everyday use, especially in emerging markets.
Regulation and policy
On the political front, Qureshi expects US lawmakers to introduce a crypto market structure bill in 2026 after extensive negotiations. While he sees progress as likely, he warned that the final outcome could leave parts of the industry unhappy.
He also predicted increased political scrutiny linked to crypto ventures linked to US politics, warning that congressional investigations could reveal questionable deal-making and create reputational fallout for participants.
Prediction markets, artificial intelligence and security
Qureshi expects prediction markets to expand rapidly as cultural acceptance grows, even as legal uncertainty persists. He expects that a small number of consumer-facing platforms will get the most attention, while the majority of copycat efforts will not gain traction.
In artificial intelligence (AI), Qureshi argued that crypto’s near-term gains will remain concentrated in developer tools and security rather than consumer automation. He expects smaller teams to ship increasingly complex products using AI-driven workflows, while cybersecurity improves through automated monitoring even as attack attempts continue.
Qureshi revealed that he invests in many of the assets mentioned in the post.
