Pakinomist – Bitcoin’s surge past $100,000 has fueled speculation about renewed interest in the cryptocurrency, but Barclays (LON:) Analysts suggest that the hiring landscape in the crypto sector remains muted.
In their latest report, Barclays examined whether the recent price surge, attributed in part to anticipation of a crypto-friendly Trump administration, has driven an increase in crypto-related positions.
Using LightCast data, the analysts track job listings with keywords such as “Cryptocurrency,” “Bitcoin,” “Ethereum,” “Metaverse,” “Web3,” and “Blockchain.”
The results reveal that crypto-related positions peaked in late 2021 and early 2022, with Web3-specific roles peaking later in 2022.
Since then, the bank said hiring activity has steadily declined.
“While the price of Bitcoin has responded to the potentially crypto-friendly Trump administration, hiring has not,” the analysts wrote.
Among the keywords tracked, blockchain-related positions remain the most prevalent, even in 2024.
However, when indexed against January 2022 levels, Barclays said the data shows all categories of crypto-related roles are still significantly down.
The report highlights a disconnect between Bitcoin’s market performance and broader hiring trends in the crypto space.
They explained that while the potential for regulatory shifts under the Trump administration may generate optimism, it has yet to translate into a notable uptick in workforce demand within the sector.
Barclays’ findings suggest that despite Bitcoin’s recent rally, the crypto industry’s hiring rebound may be lagging behind other indicators of market enthusiasm.
