Is Crypto Dead in 2023?
Crypto is not dead
According to a recent survey by JPMorgan Chase & Co., 72% of institutional traders said they have no plans to trade crypto in 2023. However, some experts in the industry say:
No, crypto is not dead
Despite the volatility of the cryptocurrency market, the use and adoption of cryptocurrencies continue to grow. While there have been fluctuations in the value of cryptocurrencies, the underlying blockchain technology and its potential applications continue to attract interest and investment from various industries.
Crypto in a Wait and Watch Phase
Although there have been some concerns about mistrust, macroeconomic factors, and lack of regulation in the crypto industry, many believe that crypto is simply in a wait and watch phase.
High-Net-Worth Investors Remain Optimistic
While the survey may be indicative of the current investment environment and the hesitancy of institutional traders to allocate a significant portion of their portfolios to higher-risk assets, it doesn't necessarily mean that crypto is no longer relevant.
In fact, a survey by technology consulting company Capgemini in 2022 found that 71% of high-net-worth individuals polled invested in digital assets, with cryptocurrencies being their favorite digital investment.
Future of Cryptocurrencies is Promising
While there may be some hesitancy among institutional traders to invest in crypto due to the compliance and legal complexities, many believe that the future of cryptocurrencies is promising.
Moreover, major financial institutions such as JPMorgan and Goldman Sachs are exploring ways to incorporate cryptocurrencies into their businesses, and countries like El Salvador have made Bitcoin legal tender.
Crypto companies are hiring in 2023
Many companies are continuing to hire despite the ongoing economic challenges. While some industries and businesses may have been negatively impacted, others have been able to adapt and even thrive in this new environment.
In fact, some companies in industries like technology, healthcare, and e-commerce have seen an increase in demand for their services and products, leading to an expansion of their workforce.
How many new crypto jobs was open in 2023?
- In February 2023 crypto companies posted 428 new web3 jobs (220 web3 developers jobs and 208 web3 non tech jobs)
- In March 2023 crypto companies posted 428 new web3 jobs (283 web3 developers jobs and 395 web3 non tech jobs)
Of course, the job market may still be competitive, and some individuals may face challenges in finding employment. However, it's important to remember that companies are still hiring, and with persistence and a positive attitude, job seekers may be able to find opportunities that match their skills and interests.
Crypto Salaries
The average yearly salary of Crypto Developer salary in United States $125k/year, and it’s growing. Here is a monthly salary stat:
- Feb 2023: $181k
- Jan 2023: $180k
- Dec 2022: $173k
- Nov 2022: $160k
- Oct 2022: $195k
- Sep 2022: $150k
Despite some uncertainty in 2023, there is still optimism about the potential of cryptocurrencies and their underlying blockchain technology.