The Old Testament in Old English Literature

According to Professor Malcolm Godden of Oxford University, "In terms of quantity at least, the Old Testament was the major influence on Old English literature: it was the source for about a third of the extant poetry and for a large part of the prose."   [source]

I wonder why the Old Testament had a greater impact on the literature of the time than the New Testament did? Was it because there are just more stories in the Old Testament to allude to? Was it because they lived in a violent time, and found meaning in the accounts of the wars of ancient Israel?