Crypto Job Openings Grow 395% Year-over-Year as Miami, Austin and Denver Become New Hubs

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The crypto space has been on a hiring spree, and the trend is set to continue.

Crypto-related job postings in the United States jumped 395% in 2021 from a year earlier, a sign of the industry’s expansion, according to recent analysis by LinkedIn. Companies ranging from tech giants Meta FB, +1.66%, Twitter TWTR, -0.67%, Amazon AMZN, +0.57% to Wall Street companies JP Morgan JPM, -6.15% and Fidelity all posted open spots for crypto talent in 2021.

The growth rate of crypto hiring has outpaced that of the broader tech industry, which saw a 98% increase in job postings in 2021, according to LinkedIn.

Jason Lau, COO of crypto exchange Okcoin, told MarketWatch that he was hiring quite a bit. At last count, I think we had something like 50 vacancies.

And it will continue to hire. I can’t underestimate how we and other companies are still trying to grow in this space, Lau said.

Crypto hubs

San Francisco (Bay Area), Austin, New York, Miami-Fort Lauderdale, and Denver saw the most crypto job openings in 2021 as various crypto companies set up shop in those cities, LinkedIn said. to MarketWatch in a follow-up.

Miami, host of the annual bitcoin conference, has its own cryptocurrency MiamiCoin, while Austin has a vibrant crypto culture. Eric Adams, the new mayor of New York and bitcoin enthusiast, has pledged to make the Big Apple the center of the cryptocurrency industry.

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

Demand in Engineering

Companies are recruiting more aggressively for engineering roles as job titles containing blockchain developer and blockchain engineer account for 15.6% of total crypto-related job openings, analysis finds from LinkedIn.

Although the majority of hires are in software and finance, other sectors, such as accounting, consulting, staffing and hardware, have also seen demands for crypto talent, according to the study.

Developers helping to build Web 3, which enthusiasts are calling the next generation of the Internet, hit an all-time high in January, with more than 18,000 monthly active developers committing code to crypto projects. and Web 3 open source, according to a report by crypto venture capital firm Electric Capital. 65% of active developers in Web3 joined in 2021, according to the report.

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

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