Job postings in the cryptocurrency world jumped nearly fivefold in 2021, even as job vacancies in the overall US labor market continued to peak.
A recent LinkedIn analysis has found that positions with “bitcoin,” “ethereum,” “blockchain” and “cryptocurrency” roles grew 395% in the US from 2020 to 2021.
Some of the most common titles included blockchain developers and engineers, LinkedIn said. And most of the job postings were in software and finance related positions. But crypto-related job postings were also within several sectors like accounting and consulting.
The growth of crypto posted even surpassed a 98% increase in listings in the broader tech sector.
Techies at legacy firms like Google (Google) – Get Alphabet Inc. Class A Report, Amazon (AMZN) – Get Amazon.com, Inc. Report, Apple (AAPL) – Get Apple Inc. Report are jumping ship in the hopes to become the next big thing in crypto, The New York Times reported in December.
The spike in cryptocurrency related hiring also comes at a time when investors too have flooded onto the scene.
Investors worldwide poured $30 billion into crypto and blockchain startups in 2021, according to PitchBook data.
Crypto marketplace OpenSea and Chainlink, which supports over $80 billion worth of assets tied up in various smart contracts, are among crypto startups companies leading this new wave of hiring.
Cryptocurrencies across the board will witness a wide selloff in the past weeks, with prices of some of the most popular tokens including bitcoin, ethereum, XRP, solana, and dogecoin all declining sharply.
Separately, Americans quit their jobs in record numbers ahead of the holidays, with an all-time monthly high of 4.5 million people handing in their resignations in November, according to newly released government data. Even a modest uptick in hiring didn’t put much of a dent into the near-record high rate of unfilled positions.