Crypto Job Market in India Declines, Bengaluru Remains Top hub: Indeed

Bangalore, 22 September 2023:  The rising prominence of cryptocurrency and its inclusion as a key agenda item at this year’s G20 Summit have shed light on the growing opportunities in the crypto job market. Indeed, the world’s #1 job site, has unveiled insights into the current landscape of crypto job opportunities in India. The data showcases the dynamic nature of the crypto space and its correlation with India’s role in the global economic arena, particularly in the midst of critical discussions on cryptocurrency regulation.

Indeed’s data indicates that job postings for crypto-related positions decreased by 64.20%, and searches for such jobs dropped by 15.20% between August 2022 and 2023. This decline reflects the evolving dynamics within the industry this year, indicating a period of adjustment and potential market consolidation.

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. The dip observed in the past year can be largely attributed to volatile market conditions and heightened regulatory and safety concerns.”

Bengaluru takes the lead, contributing significantly with 36.40% of the crypto job market. After Bengaluru, Pune, Mumbai, Gurgaon, Hyderabad, and Kochi make up 7.32%, 6.68%, 6.54%, 6.21%, and 4.66%, respectively. The wide distribution of crypto job opportunities across these regions reflects a decentralized approach, offering employment options across the country.

When it comes to job roles, Indeed’s data pinpoints the most in-demand positions in the cryptocurrency industry. Topping the list are Application Developers, accounting for 10.86% of the job listings. Following closely behind Enterprise Architects at 5.97%. The list continues with Full Stack Developers, Developers, and Data Engineers at 5.38%, 3.78%, and 2.92%, respectively.