Investing.com - Bitcoin’s surge past $100,000 has fuelled speculation of renewed interest in cryptocurrencies, but Barclays (LON:BARC) analysts say the hiring landscape in the crypto sector remains weak.
In its latest report, Barclays examines whether the recent price surge, partly driven by anticipation of a crypto-friendly Trump administration, has led to an increase in crypto-related job listings.
Using Lightcast data, the analysts tracked job listings featuring keywords such as “cryptocurrency”, “bitcoin”, “ethereum”, “metaverse”, “web3” and “blockchain”.
The findings revealed that crypto-related job listings peaked in late 2021 and early 2022, with web3-specific roles hitting their highest level in 2022.
The bank said hiring activity has continued to decline since then.
“While the bitcoin price has responded to a potentially crypto-friendly Trump administration, hiring has not,” the analysts wrote.
Among the keywords tracked, blockchain-related job postings remain the most common, even into 2024.
However, when indexed against January 2022 levels, Barclays said the data shows all crypto-related role categories are still down significantly.
The report highlights a disconnect between Bitcoin’s market performance and broader crypto hiring trends.
They explained that while potential regulatory changes under the Trump administration may be cause for optimism, they have not translated into a significant increase in demand for workers in the sector.
Barclays’ findings suggest that despite Bitcoin’s recent rally, the crypto industry’s hiring surge may be lagging behind other indicators of market enthusiasm.$BTC
