“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro
- Salaries for Blockchain Jobs get an upward push
- Jobs in Blockchain development are in high demand
- Bitcoin still sits close to USD 3500 while the network gets stronger
Blockchain jobs and salaries inching higher as crypto craze continues
Rising jobs and salaries are always a healthy sign for an emerging industry and the same seems to be happening for blockchain. A recent report released by Janco and eJobDescription.com shows that the salaries for blockchain developers are up with the average annual pay rising by more than $4,000 over the past 6 months for developers that hold jobs in the top bracket. Not just the salaries, even the jobs for distributed ledger technology are seen rising during the same period. The median annual salary for a blockchain developer is now $132,000, with experienced workers command a much higher pay of around $176,000 a year when they move to new organizations, according to Janco Associates, a management consulting firm that conducts regular salary surveys and updates its report biannually.
Bitcoin testing support levels enough though there is fundamental growth
Like a lot of risky assets across the investment classes, Bitcoin to is continuously testing its support levels. While there have been a lot of people on the street have called it the bottom there still many that believe Bitcoin can dive further. But for most, the critical support level for bitcoin is at $3,000, so its still about $500 above that at the moment.
While the price predictions do not have a unanimous consensus, one thing that can’t be denied is that Bitcoin fundamentals are growing. The activity on Bitcoin’s blockchain is heating up rapidly and it now has the transaction rate hitting its highest level in almost a year. Of course, while the rising rate is good, this may soon be a problem. Last time the rates were this high in January last year, the Bitcoin network was clogged. It was so congested that transaction times were significantly slower and the cost to send bitcoin was through the roof.
But during this last one year, in bear markets, developers have had more time to upgrade their systems and now there is an adoption of advanced systems such as the SegWit which reduces the size of transactions on the blockchain. The total percentage of these transactions is now about 40%. While there is still no clarity whether the prices will go up or no, one thing is for sure that the network is fully set up to handle the load
Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Follow him on Twitter at @KoinKing1 or connect with me on linkedin.