CS2 skins market holds steady above $5 billion after recovering from October 22nd crash

Tomorrow marks three weeks since the October 22nd update sent the Counter-Strike 2 skins market into a freefall, but since then the market has seemingly recovered and stabilized.

Since the start of November, the total marketcap for CS2 skins has stayed above the $5 billion mark, and is currently at $5.16 billion as of writing. This comes after the October 22nd update, which introduced the ability to trade-up for knives, caused the market to drop from a record-high $6 billion to roughly $3.5 billion in just a matter of days.

As the month of October came to a close, there was worry that the market could dip again due to the influx of trade-up knives entering the ecosystem. Instead, the market recovered by over $1 billion as between October 30th and November 2nd. According to marketplace site Pricempire, this is due to another spike in value in Covert items. Overall, the increase in value of Covert items is outpacing the decrease in value of knives and gloves.

Will the market eventually recover and surpass $6 billion again? Perhaps, but most skin trading enthusiasts should keep a keen eye on future Valve updates before investing anymore.