![Bitcoin is now the second largest chain by NFT volume](https://cryptoslate.com/wp-content/themes/cryptoslate-2020/imgresize/timthumb.php?src=https://cryptoslate.com/wp-content/uploads/2023/01/bitcoin-Insights-3.jpg&w=70&h=37&q=75)
Quick Take
- Bitcoin is now the second-largest chain by NFT volume.
- According to The Block, this trend began in the first week of May, closing that period at $14 million.
- By May 8, NFT volume rose to $51 million but fell to $31 million the following week.
- Ethereum continues to dominate NFT volume, consistently achieving over $60 million on a week-over-week basis. Nonetheless, Bitcoin has taken a significant market share.
![NFT Volume: (Source: The Block)](https://cryptoslate.com/wp-content/uploads/2023/05/NFT-1-e1684830470783.png)