NEW COUNTER-STRIKE 2 KNIFE AND GLOVES TRADEUPS
Valve just released a new update which has enabled the ability to trade up 5 Covert items to a Knife item or regular Gloves item from a collection.
This is a really big update that will change skinprices a lot as we have seen in the last few days. The market cap of cs2 skins went down more than 50% compared to the day before the update.
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Profitable knife tradeups
Because of the current market sitiuation finding profitable knife and gloves tradeups or even normal tradeups is hard because prices fluctuate a lot. I will post some knife or gloves tradeups which will probaly not be profitable for the coming weeks. But atleast you can get some idea of what knife and or gloves tradeups are gonna look like in the future and see your chances at maing a profit.
Explained: The new knife and gloves tradeup update
In the latest update valve made a change to cs2 skins that will have a lasting effect on the prices especially of the reds and golds. In this explenation of the update i will give some reasons why valve decided to push this update and what I and other people think is gonna happen to the skins market.
Covert skins were undervalued
One of the realistic idea’s behind this update is that valve tried to do something about Covert (red) skins being undervalued, compared to how rare they are to get out of a case. Its a well known fact that a StatTrak™ Covert skin is rarer than a knife. But despite this a lot of the covert skins were still really cheap compared to the knives and gloves. So one of the theories is that valve tried to correct this problem to make gold items more affordable for the regular player.
FAQ
Why did the CS2 skins market crash?
On October 23rd, Valve released a major update that completely changed the CS2 skin market. The new Trade Up Contract now allows players to exchange five Covert (red) skins for one Gold item, which can be either a knife or a pair of gloves.
This had a massive impact on the market. Before the update, red skins were very underpriced — some could be bought for as little as $8. After the change, players quickly realized they could use five cheap red skins to create a gold item worth much more. Because of that, the demand for red skins shot up, and the supply of gold items like knives and gloves increased heavily.
As a result, red skins went up in price by around four to ten times, while knives and gloves dropped a lot in value. Many big investors, especially from China, lost confidence in the CS2 market and started selling off their expensive items in panic. This caused an even bigger crash, as a huge amount of high-tier skins suddenly flooded the market.
Overall, this update completely changed how the CS2 skin economy works. While prices are slowly starting to stabilize, many knives and gloves are still worth much less than before, and traders are still adapting to the new system.
Will the prices of cs2 skins drop futher?
I think the prices of especially knives and gloves will drop further around October 30th, when all the newly crafted knives become available on the market. This will likely cause a short-term price dip due to the extremely high supply of new golds entering circulation.
However, this drop should only be temporary. Once the initial flood of new knives and gloves slows down, prices will probably start to stabilize and then slowly rise again over the next few months as demand catches up and fewer new trade-ups are being done.
With the idea being that reds will be worth much more than before the update and golds probaly worth a bit less. My estimation is that the golds will be around 60-80 % of their original price. I based this on the fact that the supply of golds can only be increased by 50% when using all known skins and trading them up to golds, and this ofcourse will not happen.