The Counter-Strike 2 (CS2) skins market experienced a dramatic $1.784 billion loss within 24 hours, plummeting from $6 billion to $4.27 billion. This sharp decline was triggered by a recent Valve update that enabled players to exchange five Covert-tier items for high-value knives or gloves, significantly increasing supply and driving down prices. As a result, some knives that previously sold for $1,300 have now seen their prices drop to approximately $200.