An Insightful Half-Yearly Report on Top 5 Crypto Professions of 2024
- cryptojobs.com
- September 2, 2024
- All Posts, Career Guide
- Crypto Career
- 0 Comments
The crypto job market has boasted incredible progress over the past few years, creating a surge in demand for skilled professionals. While the market has experienced ups and downs at times, the underlying potential of the crypto and blockchain landscape continues to attract top talent across different industries.
Fortune Business Insights predicts the blockchain industry will grow to $469.49 billion by 2030. This is a 59.9% compound annual growth rate (CAGR), a massive increase for any industry. However, a separate study conducted by Grand View Research revealed an even better outlook for the blockchain industry. According to the report, the blockchain market value is expected to grow to $1,431.54 billion by 2030 and boast an 85.9% CAGR.
The above research clearly indicates that the future of the crypto job market is bright. With the industry’s value increasing yearly, talented individuals from multiple industries are interested in growing a career in the crypto industry. The demand for top crypto and blockchain talent is surging, echoing the need to incorporate more talented individuals into the industry. Consequently, more individuals are ready to join the crypto industry and become a part of the decentralized web of the future.
Crypto Job Market Outlook by Region
The level of adoption of crypto and blockchain heavily depends on a region’s job market conditions. Mass adoption of crypto or blockchain is a challenge as certain regions still do not welcome web3, blockchain, or cryptocurrencies. However, many regions have embraced blockchain technology and cryptocurrencies, making them a hotspot for well-paying jobs.
The number of active companies in the crypto space has increased by 13.3% by the end of the first quarter of 2024 in the UAE. In addition, the UAE’s blockchain ecosystem now supports more than 10,600 professionals, and this figure is growing at a rapid rate. The focus of the UAE government is to grow the blockchain industry exponentially in the next five years.
On the other hand, India, China, and the USA together account for 50% of the world’s blockchain talent pool. According to a report by ProofofSearch, Indonesia, Hong Kong, and Singapore are the hotspots for crypto and blockchain adoption, and the region has embraced the DeFi and NFT sectors as well. As the Hong Kong Government provides regulatory clarity, the demand for specialized talent is on the rise. Countries such as the UK, Germany, and Switzerland have seen considerable growth in the blockchain industry, as evident by the high demand for top talent.
These regions have immense growth potential. As more and more countries adopt cryptocurrencies and blockchain technology, the demand for specialist talent is increasing. There is room for young talent to grow with the industry, as well as experienced individuals who want to shift their focus to the emerging sector.
With the option of remote work available, more individuals are interested in utilizing their skills in the crypto and blockchain industries and switching from web 2.0 to the web3 industry. If you are one of those experienced professionals or someone looking to start their professional journey, below are the top five crypto professions that ruled the first half of 2024.
Let’s take a look!
Top 5 Crypto Professions of 2024
The flourishing crypto industry has generated a plethora of rewarding career paths for talented individuals. From the intricacies of blockchain technology to the unpredictable world of digital assets, these roles demand a unique blend of technical expertise and financial acumen.
Given below are the five most sought-after crypto professions shaping the future of the industry.
Blockchain Security Analyst
As blockchain technology underpins more financial systems and digital assets, the need for security professionals who can protect these networks from cyber threats has surged. According to a report by Statista, security services are estimated to generate $90 billion in 2024. While blockchain technology is inherently secure, companies need to protect sensitive data at all times. This is where Blockchain Security Analysts come in.
These individuals look for weaknesses and vulnerabilities in the system, develop plans to mitigate risks, and overall ensure the security of the blockchain system for a company or client. The professionals in this position need to have strong programming language skills (Java, Python, and more) and must have exceptional analytical skills.
The average salary of a Blockchain Security Analyst is $107,334 per year, as per Ziprecruiter.
NFT Manager
According to Statista, revenue in the NFT market is expected to show a projected compound annual growth rate (CAGR) of 35.7% from 2024 to 2030, reflecting growing interest and investment in NFTs. In the Q1 of 2024, eight blockchain networks logged $3.77 billion in NFT sales.
The NFT market continues to expand, with companies needing professionals to manage projects, marketing, and community engagement. NFT Managers are an integral part of an entire NFT project. From building a comprehensive project plan to planning NFT life cycles, NFT Managers keep in touch with the artists, marketers, and other stakeholders to ensure the best results.
The average salary of an NFT Manager is $120,000 per year, as per Web3.career.
Blockchain Developer
The blockchain market value is expected to grow from $27.84 billion in 2024. By 2032, the market value of the blockchain market is expected to reach $825 billion. The worldwide spending on blockchain solutions is also expected to reach $19 billion in 2024.
As the blockchain industry continues to grow, blockchain developers have emerged as highly sought-after experts, with their skills commanding premium salaries and rewarding career opportunities for skilled individuals.
A blockchain developer is a specialized software engineer who creates and maintains applications built on blockchain technology. These individuals must have proficiency in programming languages such as Python, Solidity, Java, Go, and Rust. They should also be familiar with blockchain protocols and cryptography.
The average salary of a Blockchain Developer is $111,845 per year, as per Ziprecruiter.
Smart Contract Auditor
The global smart contract market is estimated to reach $2.14 billion by the end of 2024. During the forecast period of 2024-2032, the smart contract market is expected to reach a $12.55 billion value and a CAGR of 24.7%.
With the rise in smart contract usage, auditing these contracts for security and functionality is crucial, leading to a growing need for auditors. These talented individuals analyze the code of the contract in detail to identify security issues and incorrect coding and come up with strategies to rectify these issues.
The average salary of a Smart Contract Auditor is $92,797 per year, as per Ziprecruiter.
DAO Specialist
According to Market Research Future’s report, the DeFi market’s revenue is expected to grow to $446.43 billion by 2032, presenting a CAGR of 46.80% during the 2023-2032 period. DAOs (Decentralized Autonomous Organizations) are becoming a popular governance model, leading to a need for specialists who manage and facilitate their operations.
DAOs operate on various governance models, such as token-based voting, which raises the need for DAO Specialists. These specialists help with implementing and designing these models to ensure that they align with the organization’s goals. They are also in charge of community management and engagement, as well as fostering innovation and growth.
The average salary of a DAO Specialist is $131,000 per year, as per BeInCrypto.
Final Takeaways
As we conclude our mid-year analysis of the top five crypto professions for 2024, it’s evident that the crypto landscape continues to evolve rapidly. The demand for skilled professionals across various sectors within this industry is undeniable. From web3 developers to DAO specialists, the opportunities are vast and rewarding. However, it is crucial to stay updated with the latest trends and technical advancements to thrive in this landscape, which is the cornerstone of dynamic innovation. As we move forward to the second half of 2024, we can anticipate even greater innovation and growth in the crypto space, which will undoubtedly create new and exciting career paths.
