One point of difference between video for Instagram and Vine is that Instagram offers a series of filters.
The #video hashtag displayed 1.7 million results as of today.

It seems like Vine and Instagram are playing a sort of game of tag for apps. Right before Instagram launched its new video functionality, Vine teased its own updates via somewhat mysterious Vines. And then the day after video for Instagram launched, Vine announced an update for Android  that allows users to search via hashtags and user names (including user name mentions). Perhaps bigger news for Vine is that users can now share their creations on Facebook rather than just Twitter. Other enhancements include the promise of speedier performance, the ability to clear cache to free up space as well as some UI changes and bug fixes.  The latest version of Vine for Android, which brings it on par with the iOS version, can be downloaded here.

While the updates may be good news for Vine Android users, they didn't steal the thunder from Instagram's video addition. More than 5 million videos were uploaded to Instagram's social network in a 24-hour period following the announcement (Vine users are estimated to upload 1 million videos daily). Considering that Instagram reports 45 million still photos are shared per day, video doesn't come close and probably won't ever reach the same numbers as photos since it's easier and faster to snap and share a single image than a 15-second video. 

We're sure this game of social video feature tag isn't over yet but the question is, who makes the next move?