The Prosperity and Collapse of Virtual Skins: The Ups and Downs of the CS:GO Item Market
As the hype around Meme coins gradually fades, some former speculators have turned their attention to the virtual skin market of CS:GO. These former "crypto hunters" have transformed into "item flippers," viewing CS:GO skins as a new wealth code.
CS:GO was officially released on August 21, 2012, and introduced the weapon case and skin system the following year, allowing trading on the Steam market. This move laid the foundation for the CS:GO cosmetics economy, which has undergone multiple updates and attempts at free-to-play, leading to a twelve-year prosperity period for the cosmetics market.
However, in May 2025, the CS accessory market suddenly collapsed. The accessory index plummeted by 20% in three days, and the prices of several popular trading varieties nearly halved, sparking heated discussions among users on various platforms. This kind of market collapse is all too familiar for those involved in cryptocurrency speculation.