I believe many are trading it like a speculative asset and thinking it will appreciate in value alongside STEEM. I have seen numerous posts citing the coins relative "scarcity" as a reason to buy it (sorry, but scarcity is NOT a utility) and I've also seen numerous people doing Technical Analysis on SBD and saying it's going higher (without understanding ANY of the Fundamentals of the coin). So yeh, I think there is a lot of ignorant speculation going on.