Recent OpenRouter data shows weekly token volumes near 161T, driven by explosive adoption of new low-cost models such as Space Bunny Alpha (33.5T) and DeepSeek V4.1 Flash variants amid strong demand for agentic coding workloads. Chinese open-weight models continue gaining share through competitive pricing and performance, while platform additions like batch inference, in-region routing, and expanded model catalogs (including decision models) lower barriers and encourage higher developer traffic. Outcomes around 165-175T reflect expectations of modest continued growth from these catalysts, whereas sub-155T or 185T+ scenarios hinge on whether recent model surges stabilize, new integrations accelerate volume, or competitive shifts and usage patterns moderate the pace. Trader sentiment remains diffuse given the rapid evolution of model releases and routing incentives.