Haseeb Qureshi, managing partner at cryptocurrency-focused venture firm Dragonfly, says 2026 is shaping up to be a year in which long-standing cryptocurrency trends firm up rather than reset, even if markets show sharp moves in both directions.
In a Dec. 29 post on
Markets and blockchains
Qureshi expects bitcoin to end 2026 above $150,000, even though it represents a smaller proportion of the overall crypto market. He framed that 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 new fintech blockchains, arguing that recent enthusiasm is unlikely to translate into sustained use. In his opinion, key indicators such as wallet participation, stablecoin flows, and tokenized asset adoption will not live up to expectations.
Instead, Qureshi expects developer activity to remain focused on infrastructure that prioritizes neutrality and composability. Within that framework, consider that Ethereum and Solana will continue to exceed expectations, even as newer networks compete for attention.
It also anticipates deeper corporate involvement, particularly in the payments and financial services sectors. Qureshi predicts that at least one major technology company will launch or acquire a crypto wallet, while other Fortune 100 companies will implement blockchain systems tied to banking and fintech operations. He highlighted Avalanche and several accrual frameworks as platforms positioned to benefit from that trend.
Market structure and DeFi
In decentralized finance, Qureshi expects the market structure to evolve toward consolidation rather than fragmentation. He predicts that a small number of dominant venues will capture the majority of on-chain perpetual futures trading, and that smaller platforms will compete for the shrinking remainder.
It also sees product innovation reshaping trading behavior, particularly through derivative formats and liquidity mechanisms that emphasize negotiated execution over open order books. At the same time, he warned that growing sophistication could bring reputational risks, predicting that at least one DeFi-related insider trading controversy would attract widespread scrutiny.
Payments and stablecoins
Qureshi’s strongest conviction centers on payments infrastructure. He expects the supply of stablecoins to expand considerably in 2026, while remaining overwhelmingly denominated in dollars, even as individual issuers compete for market share.
Instead of focusing solely on issuance, it emphasized distribution, arguing that new payment pathways will accelerate adoption much more quickly than previous cycles. In his opinion, these channels will play a central role in bringing stablecoins into everyday use, 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 extensive negotiation. While he sees progress as likely, he warned that the end result could leave parts of the industry dissatisfied.
He also predicted increased political scrutiny linked to crypto companies linked to US politics, warning that congressional investigations could expose questionable deals and lead to reputational consequences for participants.
Prediction, AI and security markets
Qureshi expects prediction markets to expand rapidly as cultural acceptance grows, even if legal uncertainty remains. He anticipates that a small number of consumer-facing platforms will attract the most attention, while most copycat efforts will fail to gain traction.
On artificial intelligence (AI), Qureshi argued that near-term cryptocurrency gains will remain focused on developer tools and security, rather than consumer automation. Expect smaller teams to ship increasingly complex products using AI-powered 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.
