The market valuation of HBD is usually very close to the conversion rate to HIVE. One of three things need to happen for it to be priced at 1 USD again:

• The price for Hive goes above 0.16 USD.
• 1.7 million HBD are converted to Hive.
• Around 1.7 million HBD are burned,

Or we have a combination of any of the above .

I am betting that HIVE goes to 0.16 before any of the other two conditions materialize, which means that at the current prices HIVE has a better ROI than HBD.

Since the fair value of HBD should be around 0.73 the market action seems to suggest that speculators expect it to go up in the near term (it's trading above the expected conversion rate).