I spent the last couple of weeks researching why the steam market is being targeted so much by these pump and dump schemes, this is what I found out.
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There are no regulations on the CS2 skin market and it is worth around $5-$6 billion, and because skins have no underlying asset value, their prices are driven by hype. This makes them easy to manipulate.
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The people doing these moves usually have a pretty clear template for testing if a skin is worth it to pump, it involves buying small amounts first to see how fast the quantity goes up.
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It’s not worth it to try to “hop on” the pump. By the time the price has started to increase it is likely too late and you’ll be left taking a loss, for example, my data tracked the FAMAS | Survivor Z which spiked 320% in two weeks and then crashed a few days later.
Let me know if you’re interested in the full write up. Disclaimer: I am one of the founders of a CS2 skin market intelligence tool.
Don’t worry though, I actually have sources backing this stuff up. I’m not just blaming the Chinese with no data.
Would love feedback!
