Crypto Market Observes Massive Hiring Boom – Job Listings Doubled in the Last 3 Months
It seems that the “good news cycle” of cryptocurrencies has started once again. As we covered yesterday, more credible and bigger names are endorsing the importance and need of the digital currencies, leading to a spike in market activity and pushing the prices up.
While one side of the market activity is currency trading, the other one is more of a backend stuff. For example, development of a token, its processes and go to market plan, all of this is done in the back offices with little known to the public. One such activity is job listing and hiring, where companies and institutions are trying to acquire the best brains of the market.
In the bitcoin frenzy, the reports of trading, price ups and downs, and other market activity do make headlines, but little attention is paid to the backend things like hiring. Angellist, probably the most popular website for startups, has revealed some interesting information about the new crypto-related job listings.
Even though the price of bitcoin has dropped 60% since December of last year, the company found out that: “In the last 3 months, the number of new crypto job listings has doubled.” It has shared the details of the hiring, popular jobs, and the needs of companies.
What’s behind this Hiring Boom?
There are a number of factors leading to the latest hiring boom. According to the premier startup website, the growth in market activity and price competition between various currencies is attracting people into the market.
“The price run-up of Bitcoin and Ethereum in 2017 is attracting more people into the space for the first time, and the level of interest from the investor community is also at a record high,” wrote the company. Even in the last week, Etherereum, XRP, and Bitcoin cash observed steady price hike – and gave tough competition to Bitcoin.
The second important factor is growing number of token sales and initial coin offerings (ICO). With the number of startups succeeding in fundraising, increasing day by day; new investors and entrepreneurs are jumping into the bandwagon to test their ideas and luck. The large sums of money going into the cryptocurrency space, from ICOs, to VC funding, and the price appreciation of key currencies, has led to a hiring boom at cryptocurrency startups. Only in the month of March, over $3 billion were raised via ICOs.
And it’s a typical business phenomenon that once a startup finds the financial capital, her next hunt is the best human capital for the project/product. Engineers who’ve deep expertise and experience in blockchain technologies are in great demand. In fact, the demand is equally high for experienced as fresh enthusiasts who have a keen interesting in blockchain and its sister technologies.
However, it’s not that only engineering related jobs are in-demand. According to Angellist, it has seen growth in the job listings for marketing, business development, operations, growth, customer support, and other non-technical roles as well.
There are a number of companies who have plans and future projects, but are waiting for market consolidation before jumping into the ring. They acquire talent to test their idea beforehand, and develop some killing minimum viable product (MVP). Even regulators and government functionaries are hiring subject specialists, in order to deepen their understanding of the subject, and do their jobs in a more balanced manner.