Crypto hiring is off to a slower start in the second quarter of 2024 after a robust first quarter, GlobalData’s Job Analytics Database reveals.
GlobalData says cryptocurrency-related hiring activity remained strong in the first quarter of the year and registered quarter-on-quarter growth as companies such as Coinbase Global and Binance Holdings posted many jobs. Yet, April saw a slowdown, indicating challenges amid market volatility and regulatory uncertainties.
“The hiring activity could have been driven by bearish sentiment prevailing during Q1 2024,” said Sherla Sriprada, a GlobalData Business Fundamentals Analyst. “Most of the firms were seen betting big on the Web3 job market anticipating an increased adoption of blockchain technology in decentralised finance and non-fungible tokens.”
“However, the cryptocurrency market has remained vulnerable to significant volatility, and hiring trends can be influenced by various factors such as market conditions, regulatory changes, and technological advancements. For instance, President Biden’s stance against crypto can also act as a big blow. In fact, we have already seen April 2024 not able to sustain the hiring momentum set in Q1 and we need to keep an eye on how things unfold.”
“The demand for crypto has seen cycles of rise and fall over the last few years, and it is advisable to stay updated with industry news, job platforms specialised in the crypto industry to get the most accurate and up-to-date information on crypto job opportunities,” added Sriprada.
