Top 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 percent 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.
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.
Some online have speculated that “clickbait” headlines are behind the loss of visibility for The Daily Mail, which reportedly lost half of its organic website traffic.
However, the announcement notes that the reasoning behind certain sites losing visibility is not able to be determined.