Cryptocurrency Job Market Surges in 2024, Gaining 80% over 2023, According to Dragonfly Capital

In the last quarter of 2024, the number of jobs in the Web3 sector saw an 80% surge compared to the same period in 2023, although it dropped by 13% when compared to the previous quarter. This decline can be attributed to the impact of the U.S. elections, which lagged behind the usual seasonal trends.

During the fourth quarter of 2024, cryptocurrency firms filled a total of 788 positions, up from 436 in the final quarter of 2023. However, this figure represents a decrease from the 902 roles that were filled in the third quarter of 2024. According to Zackary Skelly, the head of talent at Dragonfly Capital, there was a slight increase in hiring in November, and election-related changes are anticipated in the first half of 2025.

In an X thread on February 25th, Skelly stated that the venture capital firm observed the "standard seasonal dip," with candidates "mostly networking vs actively applying." Despite this dip, Skelly claims that interest in cryptocurrency remains high, with a growing number of international talents looking to the U.S. for opportunities.

1/ Q4 Crypto Job Trends & What's Ahead in 2025

We have once again analyzed our portfolio data (and plan to release insights every half). There have been some interesting developments in both talent and hiring in recent months… 👇

Although engineers from the Web2 space are still attempting to transition to the Web3 domain, "most have been harder to convert," Skelly explained.

"Web2 engineers keep testing the waters in web3, but most have been harder to convert. Top IC [individual contributor] talent is still cautious about early-stage, and many non-tech individuals are on the market following pivots/layoffs, prioritizing stability."

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Zackary Skelly

Compiled data from Skelly shows that most roles increased year-over-year, but hiring slowed across the board in Q4, with the exception of technical program management roles. Legal, compliance, and recruiting saw a surge in hiring as firms prepared for regulation and expansion.

Skelly advises keeping passive candidates engaged, focusing on non-tech hires, and improving token-based offers. Skelly also notes that "policy shifts may happen quickly." Skelly highlights the intersection of artificial intelligence and crypto, alternative layer-1 networks, and U.S. policy developments as key areas to watch.

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