Counter-Strike 2 skin market crashes by $1.8 billion after knife crafting update

The Counter-Strike 2 in-game item market has suffered its largest drop in history, with its market capitalization declining by 30% in just one day, equivalent to approximately $1.8 billion. The sharp decline was caused by a new feature added by Valve in the shooter's latest update.

Players are now allowed to craft knives and gloves by combining five secret-quality items. This change has disrupted the previous balance of rarity: cosmetics that were considered exclusive and highly valued in the market have lost a significant portion of their value. Some items, including the M9 Bayonet and the Butterfly Knife in the "Waves" skin, have fallen by over 70%.

The update that triggered the crash was released on the night of October 23rd and immediately impacted the CS2 economy. Players and traders are already calling the situation "the second great market crash" and are debating whether skin prices will ever recover.