The cryptocurrency and blockchain labor market is still growing as various organizations continue to adopt the technology. However, recruiters in the space are increasingly sourcing talent in software development.
Data acquired by cryptocurrency trading simulator Crypto Parrot indicates that software development jobs at 30% account for the largest share of all crypto and blockchain job postings in 2021 as of July 16. The share represents a year-over-year drop of 14.56% from the 34.8% share during a similar period last year.
Management comes a distant second with a share of 10% increasing 29.87% from 2020. Marketing job posting recorded a share of 7% growing 105% from last year. Information Design & Documentation ranks fourth, having dropped 1.56% YoY with a share of 6.3% as of July 16, 2021.
Elsewhere, although human resource job posting recorded the least share at 3%, the sector had the most significant growth rate at 200%. In general, as of July 16, 2021, the share of crypto and blockchain job postings grew 118% compared to September 5, 2020.
Job postings correlate with the crypto rally
The report highlights the possible drivers for the increased cryptocurrency and blockchain job postings. According to the research report:
“From late last year, the value of Bitcoin and Ethereum surged to historical levels presenting investors with a chance for increased profits. For companies in the space, the rally pointed to a possibility of increased revenue, prompting the hiring spree. In this line, there is a likelihood the job posting plunged this year after the crypto market corrected from May.”
Despite the increasing job postings, the cryptocurrency and blockchain labor markets are not immune to the general hurdles of the industry. Notably, the sector might still be impacted by the regulatory uncertainty. Additionally, the price volatility will potentially dictate how the hirings take place.