**Recent weekly token volumes on OpenRouter have reached approximately 164T, driven primarily by surging agentic workloads that now dominate traffic alongside heavy use of low-cost, high-speed models such as DeepSeek V4.1 Flash variants.** This positions the four-week Oct 26–Nov 22 window near 650–700T at current run rates, with trader consensus split between 725–775T and 775T+ reflecting uncertainty over continued acceleration. Key factors include rapid agent adoption (up dramatically year-over-year), shifting share among providers like DeepSeek, StepFun, and Xiaomi versus premium options from OpenAI and Anthropic, and the platform’s overall 20–30x growth trajectory in recent periods. No major regulatory or launch events are imminent, leaving momentum from developer ecosystem trends as the main swing variable.