Popular cryptocurrency news site, CCN.com has shut down following a significant drop in the site’s mobile traffic. CCN’s founder and director, Jonas Borchgrevink revealed that mobile traffic to the site crashed by over 71% after Google’s recent Core update. The site which depends solely on ad-revenue has lost more than 90% of its daily income.
Google’s June 2019 Core Update rolled out on June 3th 2019 and CCN’s traffic from Google searches dropped more than 71% on mobile overnight.
He states that even though the site had seen similar and worst days in the past, more people have joined the team and it is their decision not to downsize. Instead, employees will be moved to HVY.com, a news platform for journalists.
CCN is not the only crypto news site that has been affected by Google’s update. A plethora of other crypto news sites including CoinDesk, Cointelegraph and u.today have also been hit by the update. While this may appear to be a crackdown on crypto-based sites, some sites without crypto affiliations have also been hit.
The bottom line is that it is still unclear as to how and why a lot of cryptocurrency sites are being affected. Like Borchgrevink noted:
Unless someone – anyone – who actually worked on the June 2019 Core Update at Google explains what is going on, all we can do is to ‘guess, speculate, and experiment’ as far as our bank accounts allow us to.
CCN has been in the crypto news niche since 2013, and it is sad to see 6 years of work go down the drain in less than a week. We wish the CCN team good luck as they transition to HVY.