We may push the update out next Monday, depending on our progress. We hope we can sort out a few issues before the update. Basically CS:GO trading already works without the API. But we want to update other stuffs which have been under development for a long time: the new credit system, the community market and the new search etc. We think it is a very big update and we do not want to break too many things at once. Also, CS:GO knife is completely untested at the moment, although we will still update even if we do not get to test it at the end.
When you mention the new search update then you mean it will be like on the Steam Market so it's from the cheapest to the most expensive trades? That will be very nice, I hope everything will be working great.