Haseeb Qureshi, managing partner at crypto venture capital firm Dragonfly, says 2026 is shaping up to be a year where long-standing crypto trends will assert themselves rather than reset, even if markets see sharp moves in either direction.
In a Dec. 29 article on
Markets and blockchains
Qureshi expects bitcoin to finish 2026 above $150,000, while representing a smaller share of the overall crypto market. He presented the combination as a sign that activity elsewhere could grow without displacing bitcoin’s role as the sector’s anchor asset.
He was more skeptical of new fintech-branded blockchains, arguing that recent enthusiasm is unlikely to translate into sustainable use. According to him, key metrics such as wallet engagement, stablecoin flows, and tokenized asset adoption will not meet expectations.
Instead, Qureshi expects developer activity to remain focused on infrastructure that prioritizes neutrality and composability. As part of this, he believes that Ethereum and Solana will continue to outperform expectations, even as the new networks compete for attention.
He also expects greater involvement from businesses, particularly in the payments and financial services sectors. Qureshi predicts that at least one major tech company will launch or acquire a crypto wallet, while other Fortune 100 companies will deploy blockchain systems linked to banking and fintech operations. He highlighted Avalanche and several stacking frameworks as platforms positioned to benefit from this trend.
Market Structure and DeFi
In the area of ​​decentralized finance, Qureshi expects the market structure to shift towards consolidation rather than fragmentation. He predicts that a small number of dominant sites will capture the majority of on-chain perpetual futures trading, with smaller platforms competing for the increasingly smaller remainder.
He also sees product innovation reshaping trading behavior, including through derivatives formats and liquidity mechanisms that emphasize traded execution on open order books. At the same time, he warned that growing sophistication could lead to reputational risks, predicting that at least one DeFi-related insider trading controversy would attract mainstream attention.
Payments and stablecoins
Qureshi’s strongest belief focuses on payment infrastructure. He expects the supply of stablecoins to increase sharply in 2026, while remaining predominantly dollar-denominated, even as individual issuers compete for market share.
Rather than focusing solely on issuance, he emphasized distribution, saying new payment systems will accelerate adoption much faster than previous cycles. According to him, these channels will play a central role in the daily use of stablecoins, especially in emerging markets.
Regulation and policy
On the political front, Qureshi expects US lawmakers to advance a crypto market structure bill in 2026 after lengthy negotiations. Although he sees progress as likely, he cautioned that the end result could leave some of the industry dissatisfied.
He also predicted increased political scrutiny linked to crypto projects linked to US politics, warning that congressional investigations could uncover questionable deals and have reputational fallout for participants.
Prediction markets, AI and security
Qureshi expects prediction markets to grow rapidly as cultural acceptance increases, even as legal uncertainty persists. He predicts that a small number of consumer-facing platforms will get the most attention, while the majority of copycat efforts will fail to gain traction.
When it comes to 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.
