SEI’s On-Chain Growth vs. Hedera’s Institutional Backing: Head-to-Head Layer-1 Network Comparison

• SEI’s $4.68B daily stablecoin volume signals surging DeFi user adoption
• HBAR gains 28% in 3 months but faces declining USDC supply concerns
• SEI outpaces rivals with $110M USDC inflow and rising DEX activity

In a maturing crypto market, investors are looking past the hype and focusing on fundamentals. Two projects often in the spotlight are SEI Network and Hedera (HBAR). While both platforms have unique strengths, a closer look reveals distinct differences that could influence which one has the upper hand right now.

So why these two? The search for top altcoins is heating up as Bitcoin’s dominance wanes. Here’s CoinEdition’s previous report on 5 altcoins gaining market momentum. 

SEI Network: Riding a Wave of DeFi Momentum

According to Altcoin Buzz, SEI Network has established a strong position in the DeFi sector, having been built specifically for high-speed financial applications. Its performance has drawn significant attention, with the token price climbing 33% over the past three months, from $0.20 to a high of $0.37 before settling near $0.28. 

SEI’s on-chain activity is expanding rapidly, with daily stablecoin transactions now exceeding $4.68 billion. After integrating native USDC, the network attracted an impressive $110 million in deposits in just 10 days, surpassing competing chains, like Algorand, Near, and Polkadot. DEX activity has also spiked, with a total volume of $1.53 billion in July alone.

Additionally, the number of daily active addresses continues to rise, pointing to growing adoption. Recent launches such as Backpack, Etherscan integration, and the arrival of USDY stablecoin via Ono Finance add further momentum. With half of its 10 billion supply already circulating and institutional interest rising including an ETF filing from Canary Capital SEI is positioning itself as a serious player.

Hedera: Institutional Trust, but Facing Recent Hurdles

Hedera, analyzed by the same firm, uses a unique hashgraph technology designed for high throughput and scalability. Its biggest strength is arguably its governing council, which includes tech giants like Google, IBM, and Deutsche Telekom, giving it immense institutional credibility.

In July, HBAR was listed on Robinhood and Kraken, opening access to millions of retail users. Partnerships like the one with Bison Link brought in over $100 million in real-world asset initiatives. 

However, its stablecoin momentum stalled. USDC supply on Hedera fell from $224 million to just $57 million within days, possibly due to short-term incentives ending.

Despite the setback, HBAR remains up 28% over the last three months. Its current price is around $0.24, still far below its all-time high of $0.57.

The Bigger Picture: SEI and Hedera are just two of the top altcoins on our radar. Here’s the full list of the 5 altcoins CoinEdition highlighted for a August bull run.