Bitcoin has become the second-largest chain by NFT volume, with a total of $14 million in the first week of May. However, the NFT volume fell to $31 million in the following week after reaching $51 million on May 8. Despite this, Ethereum still dominates the NFT volume, consistently achieving over $60 million on a week-over-week basis. James Van Straten, a research analyst at CryptoSlate, is passionate about data, technology, and identifying trends, and sees Bitcoin as the greatest invention of the 21st century. CryptoSlate's latest market report analyzes the impact of Tether's plan to buy Bitcoin every month and its potential to cause market volatility, putting it in competition with MicroStrategy.
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Bitcoin Becomes Second-Largest Chain by NFT Volume, Closing May at $31 Million
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