Bitcoin bull run heats cryptocurrency jobs market, hits 12-month record

The sector’s bullish trend during Bitcoin’s surge has seen the cryptocurrency jobs market heat up.

According to CryptoJobsList, rising cryptocurrency prices and activity have increased the number of applicants and postings on industry job sites.

Last month, published vacancies reached an annual record. Such an indicator has not been seen for several years amid the ongoing bearish stagnation.

At the same time, the active search for employees occurred in March against the backdrop of Bitcoin (BTC) updating its historical maximum. The number of vacancies hovered around 291 in February, increasing to 510 by March.

Since the beginning of the year, the number of companies looking for specialists in the crypto industry has also increased. The number of such firms in March was 106, the highest since the beginning of the year against 82 and 93 in January and February, respectively.

However, the number of employees who want to work in the crypto industry has grown even more. In March, 5,843 people applied for jobs, which is also a record for the last 12 months.

Typically, the early stages of a bull run tend to make existing companies more willing to hire, often freezing when the cryptocurrency market is in a downturn.

In 2023, the crypto industry was recovering from the severe turmoil of the previous year. Some companies and projects recovered from a protracted recession, while others faced a dismal outcome.

According to 2023 data from Coincub, the Web3 job landscape has undergone significant changes since the end of last year.

Bitcoin jobs were down 95%, cryptocurrency jobs were down 90%, and blockchain jobs had been cut in half.