Len Sassaman as Satoshi Nakamoto? Ethereum’s Upgrade & Sui’s Surge: News of October 7, 2024

Crypto Community Discusses Len Sassaman, Was He Satoshi Nakamoto?

An upcoming HBO documentary, "Money Electric: The Bitcoin Mystery," airing on Oct. 8, claims to reveal the identity of Bitcoin's creator. The leading candidate? American cypherpunk and cryptographer Leonard Harris "Len" Sassaman.

Sassaman, who tragically passed away in July 2011, was memorialized in Bitcoin block 138,725 with an encoded tribute that read:

"This block contains the transaction memorialising American technologist and cryptographer Leonard Harris Sassaman in ASCII art."

On the prediction platform Polymarket, Sassaman currently leads speculation with a 36% chance of being Satoshi Nakamoto. Other potential candidates include Hal Finney, Adam Back, and Nick Szabo.

However, Sassaman’s widow expressed doubt in 2021, stating on Twitter that she didn’t believe her late husband was Bitcoin's inventor.

If Sassaman truly is Satoshi, this revelation might be seen as a positive for the Bitcoin network, as the more than 1 million BTC held in Satoshi's wallets could remain untouched forever, providing stability for holders.

Many altcoins & memecoins soar despite stable BTC

Altcoin market capitalization is rebounding following a successful retest, signaling a shift into the next phase: expansion. Traders are now watching closely for potential breakout movements as momentum builds.

Crypto funds saw $147m of outflows last week

Digital asset investment products saw minor outflows of $147M last week, driven by stronger-than-expected economic data. Solana stood out with $5.3M in net inflows, reversing last week's outflows, while Bitcoin saw outflows of $159M.

SUI breaks into the top 20 coins again

Sui Network ($SUI) has surged into the top 20 cryptocurrencies by market capitalization, marking a significant milestone for the blockchain platform.

New Ethereum proposal aims to increase throughput by 50%

If approved, EIP-7781 may reduce block times to 8 seconds from 12 seconds, increase blob capacity and make decentralized exchanges more efficient.

A new Ethereum Improvement Proposal (EIP) would slash block times on Ethereum by 33% and increase data capacity — increasing overall throughput by 50%, developers claim.

Introduced on Oct. 5 by Illyriad Games co-founder Ben Adams, EIP-7781 aims to slash block times on the Ethereum network to eight seconds from 12 seconds, increase the latency of based rollups and boost the capacity of blobs — a temporary data structure to reduce layer-2 network fees.

In an Oct. 6 post to X, Pseudonymous developer Cygaar said EIP-7781 would be the “first huge” step toward improving the base layer of the Ethereum network, as the bulk of developer focus is being herded toward Ethereum layer-2 networks as scaling solutions.

Top Gainers: WIF, SUI, TAO, POPCAT, BONK, PEPE, NOT.

That’s all for today, have a good trading week!