As the cryptocurrency market embarks on a new bull run, the sector’s job market is experiencing a significant upturn. The rise in cryptocurrency values and market activities has led to an increase in both job postings and applications on specialized industry platforms.

Raman Shalupau, the founder of CryptoJobsList, notes a monthly growth rate of 20–30% in the number of active companies on the site. This growth, he observes, primarily involves companies that weathered the previous bear market, rather than newcomers to the industry. According to Shalupau, the initial phase of a bull run sees hiring predominantly by established companies, which may have previously paused their recruitment efforts during market downturns.

The influx of new entities looking to hire typically occurs later in the cycle, often around six months in, fueled by heightened venture capital activity and the collective sentiment that cryptocurrency is a permanent fixture of the financial landscape. Past cycles have seen hiring surges accompany the emergence of new business models or technological paradigms, such as the need for enhanced analytics tools in a multichain environment.

However, the defining narrative of the current bull run remains to be seen, according to Shalupau.

He highlights that cryptocurrency exchanges, a key sector of the market, are ramping up their recruitment significantly. Leading exchanges such as Binance, KuCoin, Coinbase, Kraken, and Gemini collectively have over 1,000 job openings. Binance leads with over 350 vacancies, followed closely by KuCoin with 300. Coinbase’s open positions have increased to nearly 200 from just 70 in December 2023, with Kraken and Gemini also actively hiring.

Among Binance’s openings, 50 are aimed at entry-level or recent graduates, presenting a gateway for newcomers to enter the cryptocurrency field. Additionally, the bull market has brought about an increase in average salaries for positions such as engineering roles, which now offer an average salary of $168,000 in 2024, up from $137,000 in 2022 and $135,000 in 2023.

This hike in remuneration has naturally led to a rise in the number of applications, with the United States, Singapore, and the United Kingdom being the top hiring locations. Other active hiring regions include Hong Kong, India, and Canada, with remote positions ranking highly as a preferred location option.