The most focused on statistic within crypto is CoinMarketCap‘s total crypto market cap ($213 billion as of the time of this post). While that stat is reflective of investor sentiment, it’s only moderately correlated to the “health” of the crypto industry.
There are lots of people who think the key metric of the health of a blockchain based ecosystem is Transactions Per Second (TPS). Others think that “Transaction count is an inferior measure”. My favorite site providing metrics based on publicly available blockchain info is Blockchain.info. As a metric junkie, I can’t get enough.
In this weekly post, I highlight the one chart/set of metrics I saw in the last week that gives me additional insight into the health of the crypto industry or a particular crypto asset.
The CryptoOracle Crypto State of The Week:
The 1,775 blockchain-related job openings in the U.S. in August 2018, is a 300 percent increase over the same period last year, highlighting the fact that employers remain confident in the crypto market opportunity, and continue to make long-term investments in their teams, even though the crypto market cap is down 70%+ from it’s highs.
Job openings are a great leading indicator of the health of the industry as job opening lead to job hiring, which leads to people building things. The more people building things the greater the opportunity to build that thing that will bring crypto mainstream.
Lots Of Other Great Data
The report from Glassdoor “The Rise of Bitcoin & Blockchain: A Growing Demand for Talent, had a lot of other great stats. To those wondering whether New York or San Francisco is the crypto capital of the world:
The data suggests that ConsenSys and IBM are driving factors in NYC topping the list, while Coinbase, Figure, and Oracle are key to San Francisco:
Outside the U.S., crypto job demand doesn’t appear as great, and it’s more concentrated (the top 5 cities represent 40% of the international job openings vs. 32 % for the top 5 U.S. cities):
While the ultimate success of crypto remains to be seen, the crypto job market is primed to continue its rapid growth into the near future, and that’s a great sign for the health of the crypto industry.
If you have great data relative to the health of the crypto industry, please share below or send to [email protected]