Steam Community Market has been very much volatile these days, but it’s very much rare that we see prices of items doubling overnight (that too, without any news). The prices of the Operation Hydra Passes skyrocketed, the pass which was trading at around $8.50 to $12.3 in a matter of 4-5 hours, and now each pass is trading at even higher price touching to $17. Not just Hydra Pass, the prices of Operation Shattered Web Pass also rose 50%, from $10 to now trading at around $15.
So what led to the sudden rise in price?
It was amazing to see how a CSGO Item whose price has remained relatively stable over time, while slowly trending upwards over time, have its price double overnight, so we went to find out what might be the factors behind this rise, and the community at Reddit always comes to rescue.
The reason for this price rise was a Chinese tournament requiring participants to have at least 2 Operation coins or one CSGO Service medal. The registrations for the event close on 1st of June 2020. Due to this weird requirement set by organisers of the event, the players might have rushed to buy the operation passes, in order to meet the requirements.
The cheapest option available to the players was clearly the Operation Hydra Pass and the Operation Shattered Web Pass. Many players, would already own the Shattered Web Pass, therefore the main surge in prices was seen with the Hydra Passes. Prices of Operation Bloodhound Pass also saw a 25% rise from $27 to $35. Older operation passes, did not see any change in prices.
It’s also to note that there are some rumours that the latest video of Tdm Heyzeus (Do check him out, there’s always something new to learn from his videos) was the reason behind the rise in prices, but it does not seem to be the case, the video was released after the rise in prices, (it might have contributed to further rise). The major reason behind the price rise seems to be the Chinese tournament.
Anyways it will be interesting to see how the prices in the market for these passes move in the coming days, and how it plays out in the long run, and as always we at CSGG.IN will keep you updated with all the action.
UPDATE dated 13th June 2020: It seems that the rise in price of Operation Hydra pass was not temporary, the price has continued to remain stable and is currently trading at $16.9. The prices of Operation Shattered Web have further risen to $19, hence almost 100% gain in the last one month. The Operation Blood Hound pass which was trading at around $35 when we made this article, has also shown a great rise in prices and is now trading at $55.
Disclaimer: The article is for informational purposes only, and shall not be in any way treated as investment advice in any skins. Investment and Trading skins involve a considerable amount of risk, and we will not be responsible for any profits and losses you should incur.