Crypto Job Opportunities Hit Record Levels, Despite Market Downturn

Francisco Memoria

Despite the cryptocurrency market’s downturn this year, that saw most cryptocurrencies drop significantly from their all-time highs, research shows job opportunities in the sector have hit record levels as organizations are increasingly looking for talent.

According to analysis made by Glassdoor, a website where employees can share information on their current and former employers and companies can find talent, crypto job opportunities have in fact been growing throughout the bearish trend.

The analysis, spotted by MarketWatch, shows that as of August 2018 there were 1,775 blockchain-related job opportunities in the US alone. The number nearly triples the 693 opportunities available in the beginning of this year, that grew from 446 at this time last year, its report notes.

This means there’s been a 300% year-over-year increase in crypto jobs that aren’t just abundant, but seemingly also well-paid.

Overall, we found a median base salary of $84,884 per year for open blockchain-related jobs on Glassdoor. That’s a staggering $32,423 (61.8%) over the U.S. median salary of $52,461 per year, according to Glassdoor’s August 2018 Local Pay Report.

Per MarketWatch, the highest paying crypto job was of over $223,000 a year. These lucrative salaries, it notes, may partly come over the high costs of living associated with cryptocurrency hubs, as 45% of the available opening were in New York and San Francisco.

Companies that are predominantly recruiting blockchain-related talent include ConsenSys, which recently combined its efforts with URP through Ethereum, and IBM. Together, these two account for 24% of the job listings, while San Francisco-based Coinbase, which recently opened an Irish branch, accounts for 4%.

Glassdoor’s report added:

While the ultimate staying power of cryptocurrencies and blockchain technologies remains to be seen, the blockchain job market seems primed to continue its rapid growth into the near future.

The report comes at a time in which bitcoin’s price growth seems to be hitting a critical point, as while it seems to be maintaining the $6,550 mark an analyst has pointed out a breakout could show there’s “renewed bullish sentiment” in the market.

Bitcoin futures trading volumes have also been on the rise, as the Chicago Mercantile Exchange (CME) recently revealed that in the third quarter of this year average daily volume (ADV) grew by 41%.

On the development side, things are seemingly improving as well. As CryptoGlobe covered a developer has recently managed to carry out a bitcoin transaction without using a mobile network or an internet connection. South American crypto exchange Buda has also recently allowed bitcoin payments over the Lightning Network (LN).