The cryptocurrency sector, despite its rising prominence and inclusion in discussions at the G20 Summit, is experiencing a decline in job opportunities in India, as per data from Indeed, the world’s leading job site.
Decline in the Indian crypto job market
Indeed’s data reveals a significant 64.20% decrease in job postings for crypto-related positions and a 15.20% drop in searches for such jobs between August 2022 and 2023.
Sashi Kumar, Head of Sales, Indeed India, said, “This decline comes after a period of high growth in crypto in the past three years. Data from 2022 indicated an 804% increase between April 2020 to April 2022.” He attributed this dip to volatile market conditions and increased regulatory and safety concerns.
Bengaluru emerges as the leading contributor to the crypto job market, accounting for 36.40% of it. Other cities like Pune, Mumbai, Gurgaon, Hyderabad, and Kochi also offer crypto job opportunities, reflecting a decentralized approach to employment in this sector across the country.
What are in-demand crypto job roles?
Indeed’s data also highlights the most sought-after positions in the cryptocurrency industry. Application Developers top the list, making up 10.86% of the job listings, followed by Enterprise Architects at 5.97%, Full Stack Developers at 5.38%, Developers at 3.78%, and Data Engineers at 2.92%.
Conclusion
The decline in the crypto job market in India, as revealed by Indeed’s data, comes amidst a period of heightened growth in the past and reflects the industry’s dynamic nature and its adjustment to the evolving market conditions and regulatory landscape.
Bengaluru maintaining its position as the top hub for crypto jobs in India signifies the city’s pivotal role in the crypto sector. The insights provided by Indeed are crucial for understanding the employment landscape in the burgeoning field of cryptocurrency in India and globally.
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