Crypto-Related Job Adverts on LinkedIn Increased by 395 Percent in 2021

LinkedIn reveals most of the crypto job postings in 2021 were in software and finance-related positions.

By Shomik Sen Bhattacharjee | Updated: 18 January 2022 18:00 IST

Crypto-Related Job Adverts on LinkedIn Increased by 395 Percent in 2021

Photo Credit: Unsplash/ Executium

Job postings in the cryptocurrency world jumped nearly fivefold in 2021

Highlights

Crypto sector job growth outperformed that of the IT sector in 2021
Crypto saw more VC firms inject funds than any other sector in 2021
India ranks second in Bitcoin adoption globally

Job postings in the cryptocurrency world jumped nearly fivefold in 2021 amid an explosion of interest in digital assets and NFTs. As per a study conducted by popular professional networking platform LinkedIn, postings with titles including terms such as “bitcoin,” “ethereum,” “blockchain,” and “cryptocurrency” grew a whopping 395 percent in the US year on year, outpacing the tech industry which saw a 98 percent increase in the same period. Some of the most common titles included blockchain developers and engineers, LinkedIn said.

The study reveals that the job postings were in software and finance-related positions. But crypto-related job postings were also posted regarding several sectors like accounting and consulting. Hiring demand surged last year amid an influx of funding within the crypto sector in 2021. Investors worldwide poured $30 billion (roughly Rs. 2,23,740.90 crore) into crypto and blockchain startups in 2021, according to PitchBook data.

At the same time, public interest in crypto exploded as high profile evangelists like Elon Musk praised the technology and crypto companies entered the mainstream, as evidenced by the newly-christened Crypto.com Arena in Los Angeles.

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This represented almost a five-fold increase compared to 2020, and exceeded almost fourfold the amount recorded in the previous record year of 2018. Moreover, venture capital firms injected more funds into the industry in 2021 than in all the previous years combined, as shown by figures released by PitchBook.

Meanwhile, the crypto business is experiencing both highs and lows in India. Though indigenous crypto-related enterprises are cashing in on the digital currency's tremendous appeal; regulatory uncertainty remains as India has yet to finalise its crypto policy.

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Despite these legislative challenges, India ranks second in Bitcoin adoption, trailing only Vietnam; according to the 2021 Global Crypto Adoption Index. By 2030, the Indian cryptocurrency industry is expected to reach $241 million (roughly Rs. 1,797.55 crore).

Interested in cryptocurrency? We discuss all things crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music and wherever you get your podcasts.

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