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BlockBeats News, June 16, according to GMGN monitoring, the Chinese Meme coin on the BSC chain "Lobster" has been steadily rising this month, with today's market cap surpassing $14 million, hitting a near two-month high. The 24-hour growth rate is 26%, with a trading volume of $1.3 million during the same period. The cumulative increase for the month has reached 133%.

Executives from global mining giant BHP stated that as India’s steel production capacity continues to expand, the country’s demand for coking coal—a key raw material for steelmaking—is expected to surge from approximately 55 million tons in 2025 to 116 million tons in 2050, more than doubling. This projection underscores India’s position as the new engine of global steel production.India, with the world’s largest population, is undergoing rapid industrialization and urbanization. Robust demand for steel is being driven by infrastructure projects such as roads, railways, ports, and housing. India’s steel output increased from around 115 million tons in the 2021 fiscal year to 159 million tons in the 2026 fiscal year, with plans to achieve a steel production capacity of 300 million tons by 2030. This directly boosts import demand for high-quality coking coal from countries like Australia. By 2030, India’s total coking coal imports are expected to reach around 115 million tons.

Foresight News reported that the on-chain analytics platform Bubblemaps tweeted that the VELVET deployer-related address transferred a large number of tokens to centralized exchanges before the token price plummeted. The address associated with the token creator received 72 million VELVET (approximately $25 million) in March, and from June 6 to 9, about $2.5 million worth of tokens were transferred to exchanges. The project team has not explained these transfers to date, only describing the price fluctuations as "speculative behavior."