The Knife Trade Up Update, released by Valve just a day ago, has turned the Counter-Strike 2 skin market upside down. Within mere hours of its release, the prices of “Covert” skins skyrocketed five-to-tenfold, sparking panic among traders and triggering a massive boom across trading platforms. According to PriceEmpire data, CS2’s total market capitalization shifted dramatically overnight: demand for “red” skins exploded, while rare knives and gloves, conversely, dropped sharply in value.
A Price Explosion: From Hundreds to Thousands
The update introduced the ability to use the Trade Up system to obtain knives — something previously impossible. As a result, all “Covert” skins eligible for upgrade recipes instantly became overvalued assets. Examples from PriceEmpire:
- AUG | Chameleon — from ₽408 to ₽4,002
- P90 | Asiimov — from ₽1,444 to ₽9,476
- MP7 | Neon Sport — from ₽299 to ₽2,828
- FAMAS | Bad Trip — from ₽624 to ₽3,624
- PP-Bizon | Judgement of Anubis — from ₽514 to ₽5,292
- P250 | See Ya Later — from ₽597 to ₽4,525
In some cases, prices multiplied by nine or ten times, flooding the Steam Market with thousands of listings that disappeared in seconds.
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Community Reaction: “This Update Made Me Homeless”
It looks like Knives & Gloves acquired through trade-ups are NOT TRADEABLE ‼️
> The Turtle gloves in the video were trade up just now: They don't show a 7 day trade hold and can't be traded
(via @rmn_csgo) pic.twitter.com/utvpO0GZ0k
— Ozzny (@Ozzny_CS2) October 22, 2025
In trader Telegram chats like CS2News and kyotostxr, users are expressing emotions ranging from euphoria to despair. Many can’t believe what they’re seeing:
- “The update made me broke.”
- “I’m ruined.”
- “Lost 30k overnight.”
- “Down $250 just like that.”
- “I got rich overnight.”
- “Wait — are Covert skins more expensive than knives now?!”
Some celebrate unexpected profits, while others are devastated after selling their skins before the update. Players note that “Covert” items have become so scarce that their value has surpassed certain knives — long considered the pinnacle of CS trading.
A Market in Panic
The situation resembles a stock market crash — only in the virtual economy of CS2. Some traders are selling everything out of fear of a collapse, while others are buying aggressively, betting that Valve won’t intervene. User Maksimka asked:
Should I sell them while they’re expensive? Or will prices rise even more?
Replies vary:
- “Sell now — prices are at their peak.”
- “They’ll drop soon, maybe settle around ₽500–₽1,500 as things calm down.”
With Valve remaining silent so far, the community is split into two camps — the optimists and the pessimists. The former believe in a long-term scarcity effect; the latter expect a sharp correction once players start mass-selling their skins.
How the Update Reshaped CS2’s Economy
The Knife Trade Up Update has effectively created a new economic layer in CS2’s item ecosystem. “Covert” skins, which were previously mid-tier items, are now the only viable route to obtain knives via upgrades. This shift disrupted the traditional item hierarchy:
- Before: Covert < Knives
- Now: Covert temporarily > Knives in average price
Experts in the community speculate that Valve may have to adjust the trade-up mechanics or change knife acquisition odds to stabilize the market.
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What Happens Next?
Market analysts expect a partial price correction in the coming days as the initial hype fades. Some believe the new economy could persist if Valve leaves the system untouched. However, if the developers rebalance the trade-up system or limit knife upgrades, a sharp crash could follow — returning prices to pre-update levels. Either way, this update has already become one of the most dramatic economic shifts in Counter-Strike history.
