The crypto job market is experiencing a surge in activity as the industry enters a new phase of growth. The increase in crypto prices and overall market activity has led to a significant rise in both job applicants and postings on industry job sites. Raman Shalupau, the founder of CryptoJobsList, has reported a 20-30% month-over-month increase in the number of active companies on the platform. Shalupau noted that most of this activity is coming from existing companies that survived the bear market, rather than new entrants.
During the early stages of a bull run, hiring tends to be driven by existing companies that had previously implemented hiring freezes during the slump. It’s not until later in the cycle that new companies begin seeking talent. Shalupau explained that this usually occurs around six months into a cycle when there is increased venture capital activity and a general sentiment that crypto is here to stay. The emergence of a new business model or understanding is often a catalyst for the next round of hiring, and this narrative is yet to be discovered in the current bull run.
Crypto exchanges, which form one of the largest segments of the crypto market, are significantly increasing their hiring efforts. Research has revealed over 1,000 job openings across major players such as Binance, KuCoin, Coinbase, Kraken, and Gemini. Binance alone has more than 350 job vacancies, with KuCoin closely following behind with 300. Coinbase, Kraken, and Gemini are also actively hiring for around 200, 100, and 50 roles respectively. Notably, Binance offers entry-level positions for newcomers to the industry, providing an entry point for those without significant work experience.
Another positive aspect of the bull market for job seekers is an increase in average salaries. Shalupau highlighted that in 2024, engineering roles command an average salary of $168,000 compared to $137,000 in 2022 and $135,000 in 2023. With such attractive remuneration packages, it’s unsurprising that the number of job applications has also grown. The top three hiring locations on CryptoJobsList are the United States, Singapore, and the United Kingdom, while other hotspots include Hong Kong, India, and Canada. Remote work is gaining popularity as a location preference.
Zara Muktova, head of human resources at , has also witnessed an increase in activity within the job market. Since the bull market began, she has observed a threefold increase in site usage. Muktova believes that this growth may be partially attributed to marketing efforts and increased awareness. The most in-demand roles currently include researchers, product managers, and project managers.
Muktova advises job seekers to take the time to understand themselves and their career goals rather than applying for numerous jobs without purpose. It is crucial for both employers and employees to exercise caution and conduct thorough due diligence before entering into any agreements. Everyone is reminded that the bull market will not last indefinitely, emphasizing the importance of seizing opportunities while they are available.
Most job openings are concentrated in a few major cities, making it difficult for those outside to find opportunities.