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The Market Doesn’t Show It, but Crypto Is Booming

The Market Doesn’t Show It, but Crypto Is Booming

The crypto market seems to be following the moves in the stock market.

Since November cryptos gave up most of the gains they made last year.

The market took hits from omicron, rising inflation and war.

This brought the price of bitcoin (BTC) below $34,000 for the first time in six-months.

And Ethereum (ETH) dipped below its key support level of $2,500.

Moves like this are a blow to investor confidence.

But it’s important to understand that this just reflects the market sentiment.

Behind the scenes it’s a very different picture.

The money around crypto projects shows strong growth in the industry.

Jobs in Crypto Are More Popular Than Ever

One way to measure the growth in the crypto industry is to look at the rise in crypto-related jobs.

Some of the crypto jobs that have been popping up on job search websites are:

  • Blockchain engineer.
  • Compliance associate.
  • Technical blockchain evangelist.

According to LinkedIn, crypto job postings in the U.S. rose 395% in 2021.

These jobs span various fields such as human resources, law and marketing.

But the highest concentration is in engineering and tech.

This is why traditional tech companies are struggling to keep top talent.

Executives are leaving for the chance to work on something new and exciting.

And traditional tech can’t compete with the generous salaries crypto projects offer.

Coinbase pays its software engineers up to $900,000 a year.

Even tech giants like Google only offer around $400,000 on the high end.

Private Investment in Crypto Surged Last Year

Another sign of growth in the crypto industry is the money that’s flowing into crypto projects.

Crypto startups raised a record $25 billion in venture capital last year.

Crypto Startup Funding Surged 8X in 2021

This 8X surge in funding allows crypto startups to pay impressive salaries.

But this goes beyond just high salaries for tech jobs.

The huge inflow of money and talent means that we can expect to see growth in new and existing crypto projects.

And that translates into more ways to invest in crypto.

To learn about the latest crypto trends, check out Ian King’s Next Wave Crypto Fortunes service.

Regards,

text

Andrew Prince

Research Analyst, Strategic Fortunes

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