Despite hiring limitations in the IT industry, Crypto jobs are still growing

Despite hiring limitations in the IT industry, Crypto jobs are still growing ...

Silicon Valley has faced a string of firings, but according to Cointelegraph, cryptocurrency jobs are still growing rapidly.

We have not seen a slowdown in crypto hiring. According to Cointelegraph, Neil Dundon, the founder of Crypto Recruit.

As Bitcoin prices tumble, crypto hiring in the past has tended to slow down. This time, however, it was significantly different, although crypto companies now manage their treasuries in a much more responsible manner. This all translates to a much stronger hiring market.

Crypto jobs are increasing faster than tech jobs. Earlier this year, a LinkedIn study revealed a nearly 400% increase in employment related to cryptocurrencies and blockchain in the United States from 2020 to 2021. During that same timeframe, there was only a 98% increase in IT jobs.

Engineers and blockchain developers who both earn an average of $100,000 per year were the most-searchated after roles in the crypto industry.

As traditional technology diminishes, the forecast continues to shine for crypto. At least, most forward-thinking businesses are allocate some budget to investigate how they might incorporate blockchain into their existing models. Not only are more companies venturing into this space, but candidates are flocking over.

However, it does not mean it''s looking great for all crypto companies. Earlier this week, the largest crypto exchange in the United States Coinbase declared its hiring to pause, given that the first quarter saw $430 million in losses. The company said it was planning to slow hiring and reassess our headcount needs based on our highest-priority business objectives.

Despite these trends, the crypto market is still increasing, and many job seekers are still looking for the crypto sector as one ripe for continued growth.

Kevin Gibson, the founder of Proof of Search, said that two businesses should go if things happen next month. Regardless, there will be no slack at all, as long as you are eligible for membership. Alternatively, you may also have multiple offers as soon as possible.

Silicon Valley''s technology industry has taken a beating. Robinhood recently fired approximately 9% of its employees, while Peloton said it would contract by 20% to save money, and Cameo, the celebrity video-appearance app, said it would layoff approximately 25% of its employees. Twitter, Uber, and Amazon have also announced layoffs, while Facebook has announced a hiring freeze and reevaluated several recruitment practices.

In the wake of declining public market valuations and spelling issues, a portion of the slowdown has been attributed to pandemic-era growth and concerns that fresh funding might no longer be available.

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