Dragonfly managing partner lays out his 2026 crypto predictions
The venture capitalist argues 2026 will favor proven crypto infrastructure, while several fast-growing segments reshape how the industry expands.
Dragonfly managing partner lays out his 2026 crypto predictions
The venture capitalist argues 2026 will favor proven crypto infrastructure, while several fast-growing segments reshape how the industry expands.
Updated Dec 30, 2025, 6:15 a.m. Published Dec 30, 2025, 3:54 a.m.
Haseeb Qureshi, a managing partner at crypto-focused venture firm Dragonfly, says 2026 is shaping up to be a year when crypto’s long-running trends assert themselves rather than reset, even if markets deliver sharp moves in both directions.
In a Dec. 29 post on X, Qureshi outlined a wide-ranging outlook that reflects a broader investor reassessment after several volatile cycles, with durability, distribution and real-world usage taking precedence over rapid experimentation.
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Markets and blockchains
Qureshi expects bitcoin to finish 2026 above $150,000, while accounting for a smaller share 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 about newer, fintech-branded blockchains, arguing that recent enthusiasm is unlikely to translate into sustained usage. In his view, key indicators such as wallet engagement, stablecoin flows and tokenized asset adoption will fall short of expectations.
Instead, Qureshi expects developer activity to remain concentrated on infrastructure that prioritizes neutrality and composability. Within that framework, he sees Ethereum and Solana continuing to outperform relative to expectations, even as newer networks compete for attention.
He also anticipates deeper corporate involvement, particularly in the payments and financial services sectors. Qureshi predicts that at least one major technology company will either launch or acquire a crypto wallet, while additional Fortune 100 firms deploy blockchain systems tied to banking and fintech operations. He highlighted Avalanche and several rollup frameworks as platforms positioned to benefit from that trend.
Market structure and DeFi
In decentralized finance, Qureshi expects 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, with smaller platforms competing over 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 rising sophistication could bring reputational risks, predicting that at least one insider trading controversy linked to DeFi would draw mainstream scrutiny.
