Sustained weekly volumes near 165–188T through mid-to-late October have anchored trader consensus around the 185–195T band at 95.5% implied probability. Growth in agentic workloads, combined with heavy routing to low-cost open-weight models such as DeepSeek V4.1 Flash variants and GLM 5.3 Flash, continues to drive the bulk of traffic on the platform. Recent leaderboard snapshots show daily throughput of roughly 22–24T tokens, with Chinese providers accounting for the majority share and minimal disruption from outages or demand shifts. Key upcoming catalysts remain limited, though any abrupt decline in coding-agent activity or broad provider issues could still alter the final tally before resolution.