Crypto job openings surge 395% in a year, with Miami, Austin and Denver emerging as new hubs

The crypto space has experienced a hiring frenzy, and the trend is likely to continue.

Cryptocurrency-related job advertisements in the United States rose 395% in 2021 compared to the previous year, in a sign of the industry’s expansion, according to a recent LinkedIn analysis. Companies ranging from tech giants Meta FB,
+ 1.66%And
Twitter TWTR,
+ 0.57%
To JP Morgan JPM Companies on Wall Street,
Both Fidelity and Fidelity have posted open places for crypto talent in 2021.

Cryptocurrency employment growth has outpaced the growth rate of the broad technology industry, which saw a 98% increase in job vacancies in 2021, according to LinkedIn.

“We are hiring very few. At last count, I think we have close to 50 positions open,” Jason Lau, COO of cryptocurrency exchange Okcoin, told MarketWatch.

“Employment will continue. I cannot underestimate how we and other companies are trying to expand in this area,” Lau said.

encryption axes

San Francisco (Bay Area), Austin, New York City, Miami, Fort Lauderdale and Denver saw the most crypto jobs in 2021, as a variety of crypto firms settled in such cities, LinkedIn told MarketWatch in a follow-up.

Miami, which hosts the annual Bitcoin conference, has its own cryptocurrency MiamiCoin, while Austin boasts a vibrant crypto culture. Eric Adams, New York City’s new mayor and bitcoin enthusiast, vows to make a big appleCryptocurrency industry center. ”

In 2020, the top five regions with the most crypto job listings were San Francisco (Bay District), New York City, Chapel Hill Raleigh Durham District, Greater Philadelphia and Los Angeles.

demand in engineering

Companies have been hiring for engineering roles more aggressively, with job titles containing blockchain developer and blockchain engineer accounting for 15.6% of all crypto-related job listings, according to a LinkedIn analysis.

The study showed that while the majority of hiring comes in software and finance roles, other sectors, such as accounting, consulting, recruitment, and computers have also seen demands for coding talent.

The developers involved in creating Web 3, which enthusiasts refer to as the next generation of the Internet, hit an all-time high in January, with more than 18,000 active developers per month committing code to open source and Web 3 crypto projects, according to a report. Issued by the crypto venture capital firm Electric Capital. The report shows that 65% of active Web3 developers joined in 2021.

The average base salary for a blockchain developer in the US is $154,550 per year, which is higher than the average salary for a web developer of $75,073 per year, according to ZipRecruiter.