I know the real reason why "STEEM Backed Dollar" got traction, why the prices of "SBD" reached & are reaching ATH on day to day basis.
I was browsing git hub repository of STEEM for getting some knowledge about the SMT's. What i found is, 
He wrote that 1000 SBD's will be the price of token creation. Let me give you an example for clearing your doubts.
I think you have heard about the Smart Media Tokens that will be going to launch after hardfork 20. Ok if you have not heard about this, I will tell you. SMT will enable the developers or entrepreneurs to launch their own applications with their own coins. It's like Ethereum ERC 20 Tokens, where DApps have their own tokens.
So for launching your own Smart Media Tokens on steem blockchain you have to pay steem incl. 1000 SBD's to acquire the Token name or to start the ICO process.
Because of this news we are seeing a huge hike in SBD's price, Now it's trading at 13$ per SBD.
We will see a huge hike in its price after Hardfork 20 and before SMT's launch.
