Solana Enjoys 7% Boost Amid Sponsorship Of Lollapalooza Music Festival
The proof-of-stake cryptocurrency enjoyed a hefty boost during the popular music festival after advertisements for Solana appeared throughout Lollapalooza’s opening day.
The proof-of-stake cryptocurrency Solana enjoyed a hefty boost during the popular music festival after it was advertised prominently during the opening day of the Lollapalooza music festival.
Day one of the three-day festival kicked off yesterday with a bang. Headline acts included Miley Cyrus, Playboi Carti, Steve Aoki—and Solana.
That’s because the crypto project has sponsored one of the Lollapalooza stages. Videos posted on social media reveal a Solana “pool float” and a large banner advertisement atop Perry’s stage.
Solana is a relative newcomer to the crypto space; akin to Ethereum, but with a few key differences. Notably, it uses a proof of stake (PoS) consensus algorithm rather than proof of work (PoW), like Bitcoin and Ethereum.
This makes the blockchain far less energy-intensive than its rivals as well as allowing the network to scale transaction throughput.
Solana is sponsoring Perry’s stage at Lollapalooza this year 👀
Solana is also powering Lollapalooza’s newly-launched non-fungible token (NFT) marketplace. NFTs on sale include a $1,000 digitized version of the 1991 Lollapalooza poster, various $25 gifs of festival locations, and free images of sunglasses.
NFTs are a type of crypto-based token that represents ownership of digital assets, be they music, images, gifs, or videos. Though the majority of NFTs have been built on Ethereum, other blockchains have also been building out NFT ecosystems.
“Solana Summer” sunglasses at the Lollapalooza NFT marketplace. Source: Lollapalooza
'Solana Summer' sees hot start
With the highly popular music festival kicking off yesterday, it appears that the Solana-laden advertising throughout Lollapalooza has been effective.
SOL, Solana’s native token, has risen by 6.95% in price over the past 24 hours, making it one of the top gainers according to Nomics.
War, geopolitical uncertainty, President Donald Trump’s “Big Beautiful Bill"—with so much going on, what could possibly be shaking the Bitcoin market today? How about one of the biggest Bitcoin holders in history suddenly moving $8 billion from their wallet? Yikes.
The crypto community was shaken today by the movement of 80,000 BTC—worth approximately $8.6 billion at today’s prices—from wallets that had remained dormant for over 14 years. This "OG" holder, who controls the funds across eight wal...
Major altcoins have dropped after U.S. President Donald Trump stirred up trade tensions by threatening tariffs once again, while the controversial “Big, Beautiful Bill” passed its final hurdle in Congress on Thursday—much to the dismay of Tesla CEO Elon Musk.
XRP has dropped 2.8% over the past 24 hours, with Solana falling 2.6%, and Cardano 4%. Fan favorite Dogecoin has also tumbled by 4% and Hyperliquid 4.7%.
“President Donald Trump signaled that new tariff notices could be issued as early as...
The crypto market is showing relative calm Thursday, with top assets mostly flat on the day as traders digest positive macro news and consider where to allocate their positions.
Bitcoin gained 0.4% in the past 24 hours, trading near $109,800 after briefly reaching a daily high of $110,590, according to CoinGecko. Ethereum also climbed above $2,590, though traders remain uncertain about its direction as prices continue to move sideways.
Almost all of the top 100 coins have posted single-digit mov...