Crypto job market booms amid the 2024 bull run – Who is hiring?

Crypto markets have been on a rollercoaster ride marked by volatility and dramatic fluctuations. However, amidst the ups and downs, one trend is emerging: the resurgence of job listings within the crypto industry. As the market recovers from recent downturns, companies in the crypto space are once again expanding their teams and actively seeking new talent. 

So, how has the digital asset market recovered? Bitcoin (BTC) is worth $63,904.91 today, up 0.7% from an hour ago and down 3.0% from yesterday. The value of BTC today is 7.4% lower than it was 7 days ago.

Crypto job market roars back to life

The global crypto market cap is $2.55 trillion today, down 3.13% in the last 24 hours and 107.32% from a year ago. As of today, Bitcoin’s market cap is $1.26 trillion, signifying a 49.23% dominance. Meanwhile, stablecoins’ market cap is $150 billion, accounting for 5.89% of the total crypto market cap.

With the present bull rally, here are the opportunities that lie in wait. Coinbase Global Inc., a company that has recently achieved profitability, is currently seeking to hire 200 individuals for various positions across the globe. 

Competing exchanges Kraken, Binance, and Gemini are also actively recruiting, along with traditional companies like Fidelity that have increased their focus on the sector. Several specialized job boards are reporting a surge in demand as crypto startups regain the ability to raise funding and expand their teams.

CryptocurrencyJobs.co reported a significant surge in job postings, with a 50% increase year-over-year in January and February, followed by an additional 45% rise in March. CryptoJobsList has reported a significant increase in the number of job ads for March compared to the same time last year. 

The Blockchain Association, representing over 100 of the industry’s largest companies, now has over 1,700 postings listed, a significant increase from the previous year’s count of fewer than 1,000. At the height of the 2021 bull market, it boasted over 3,000 advertisements.

The industry’s leading indicator, Bitcoin, has reached a series of record-breaking highs this month, marking an impressive rally of over 50% since January. Business is booming across exchanges, with retail investors flocking back to the market, enticed by the allure of soaring profits. On Thursday, Coinbase’s shares reached a 52-week high of $262.

Traditional bigwigs jump on the trend

Fidelity is currently seeking to hire 22 individuals for various roles in the crypto field. These positions include a trader specializing in digital assets and a vice president responsible for managing the risk associated with crypto investments. 

BlackRock Inc., the largest asset manager globally, has incorporated digital assets into several job advertisements. This includes a position for a vice president specializing in digital assets and ETF legal counsel.

According to Spuller of the Blockchain Association, business development jobs that were hit hard during the previous economic downturn are now experiencing a rapid resurgence.

Several companies currently hiring, including Coinbase, experienced layoffs during the recent crypto downturn. They have made a commitment to avoid excessive hiring in the future.

“We do plan some modest investment in headcount in 2024,” Alesia Haas, Coinbase’s chief financial officer, mentioned in a February interview.

This surge in interest is attributed to the current bull market, resulting in a significant increase in the number of applications for job listings on Cryptocurrency Jobs.

Advice for Job Seekers – Yes, I know you didn’t ask

1. Stay informed: Stay updated on market trends, emerging technologies, and regulatory developments within the crypto space. This knowledge will not only help you in interviews but also demonstrate your commitment to the industry.

2. Build relevant skills: Acquire skills that are in demand within the crypto industry, such as blockchain development, smart contract programming, and digital marketing. Participating in online courses, workshops, and hackathons can help you develop these skills and make you a more attractive candidate.

3. Network: Leverage online platforms, industry events, and professional networks to connect with potential employers and industry professionals. Building meaningful connections can open doors to job opportunities and mentorship.