Cryptocurrency media site CCN is shutting down today, June 10th
according to an announcement on their website.
The post, written by Jonas Borchgrevink, director and founder of CCN Markets and Hawkfish AS, states that the reason behind the closure is a large drop off in traffic from Google searches following a June 3 Google Core Update. Borchgrevink writes that the crypto news site’s traffic fell over 71% on mobile overnight.
The founder notes that while traffic levels have been low in the past, the addition of new members to the team means that they cannot continue to operate in these conditions on advertiser revenue. The post cites data from Sistrix.com, noting that crypto news site CoinDesk saw a 34.6% drop, while Cointelegraph reportedly saw a 21.1% drop on mobile as well.
Borchgrevink states that they will be moving the CCN team to HVY.com, a news platform for journalists.
In the post, Borchgrevink also notes that not only crypto sites have been affected by the Google update, adding that specifically British tabloid The Daily Mail has seen a large drop in visibility as well.