Valve released a major CS2 update on October 23, 2025, allowing players to trade five Covert items for a knife or gloves via Trade Up Contract. Trading analytics channel CSMENT reported that the skin market capitalization lost nearly $3.5 billion over the year following the update.

The total skin market value currently stands at approximately $5.93 billion. Both casual players and investors have suffered financial losses, while market trust in the developers has diminished significantly.

“Everyone, whether a regular player or an investor, feels the consequences of these changes and has lost money. Some more, some less. But Valve itself lost the most, losing trust,” the CSMENT analyst stated.

The authors of the report suggest that a price drop could have occurred even without the update due to growing skin supply outpacing the purchasing audience. Market mechanics were originally formed in 2013, making long-term impact difficult to predict going forward.

Valve may continue changing rules to regulate the supply of specific skins, potentially causing future market fluctuations. CSMENT plans to release a YouTube video analyzing whether Valve successfully reduced item supply and discussing expected future changes.