During the Bear Market, 23,700 Crypto Jobs Were Lost.

 



Every cycle, the dynamics of the cryptocurrency market change. The market has experienced one of its worst winters, and it is currently working to recover. Regarding value, the market has been able to support a capitalization of about $1.2 trillion during the last few weeks. The amount is still less than one-third of the $3 trillion bull market peak reached in 2021, though.


The number of jobs in the crypto industry peaked during the bull market at about 211,200. But according to a recent K33 Research analysis, the number has decreased by about 23,700. Due to the aforementioned 11% decline, there are currently only about 187,500 people working in the cryptocurrency industry.


The breakdown of crypto jobs


Trading and investing continue to be among the most common uses for digital assets, it is a well-known fact. Well, this directly affects the employment sector. Currently, 60% of workers [more than 110,000] in the cryptocurrency sector are employed by a company that facilitates cryptocurrency trading and investment.


NFTs, however, were the talk of the early 2022. Leading businesses from several industries throughout the world dipped a toe into the ecosystem. In fact, even well-known figures like Justin Bieber bought a variety of current memorabilia. Throughout the weak market, the NFT enthusiasm did eventually fade. More than 10,000 individuals continue to work on NFTs and NFT gaming projects in spite of this.


Additionally, some 50,000 people are engaged in projects linked to blockchain activity. The disciplines included mining, analytics, and blockchain protocols. The remaining 25,000 persons work in crypto-related fields that fundamentally do not fit into any of the major groups.

However, the hype around AI ultimately hurt cryptocurrency's chances. In 2023, AI employment will actually be 4 times more popular than crypto jobs. According to a recent article, there has been a sharp decline in recent months in the interest in employment openings in the cryptocurrency industry.

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