The Counter-Strike skins market has collapsed overnight from its record market cap of $6 bn (~4.5 bn) to $4.1 bn after Valve introduced the ability to Trade Up for knives.
Players can convert five Covert skins from a collection for a knife or gloves, depending on what is available in the original skins collection.
The CS skins market had soared in value recently, rising 12.95% in 90 days in late summer and setting a record market cap.