One of the most talked-about cryptocurrency ventures ever is Shiba Inu (SHIB). In just two years of existence, its popularity has skyrocketed. The project is also the foundation for many dreams. Many people believe that SHIB will return to the moon soon and offer substantial profits.

Due to Shiba Inu’s growing popularity, many companies now want to accept the token with a dog motif. Most members of the crypto community are familiar with the Shib Army and its considerable size. Therefore, accepting a token that is so well-known as a business only makes sense.

The W Hotel in Dubai, UAE, is the most recent to get on the SHIB-accepting train (United Arab Emirates). The W Hotel is a five-star luxury hotel with a private beach with views of the Arabian Gulf and city skyline.

W Hotels is the newest member of the club, even though Travala had started taking SHIB in early 2022.

Dubai is also one of the world’s crypto-friendliest cities. Since many companies now accept cryptocurrency in exchange for their goods and services, the region’s crypto industry has fully developed. Globally, everyone is aware of Dubai’s obsession with cryptocurrencies. Numerous well-known cryptocurrency companies have relocated their headquarters to Dubai or started to provide their services there. Industry behemoths like Binance, Crypto.com, FTX, and others provide services in Dubai. At the moment, the region boasts some of the most business- and cryptocurrency-friendly policies. Therefore, it is not surprising that businesses, large and small, wish to establish their presence in that area.

Shiba Inu’s Plunging Story For The Day

SHIB is currently on the decline, along with the overall crypto market. Two upcoming occurrences are most likely to blame for the current situation. First of all, tomorrow is the U.S. midterm election. The markets typically see some turbulence around elections. The main topics of discussion this year are cost increases and inflation. Second, just two days after the midterm elections, on November 10, the U.S. Federal Reserve will announce its October inflation figures. Analysts predict that the inflation rate will be 7.9%, 0.3% lower than in September.

At the time of writing, Shiba Inu was priced at $0.00001095 with a daily drop of 0.01% according to CoinMarketCap.

Dubai is quickly emerging as the crypto hub of the world and thanks to its crypto-friendly policies! On Wednesday, April 27, Dubai’s largest real estate developer Damac Properties said that it would start accepting crypto payments in Bitcoin (BTC) and Ethereum (ETH) against property sales.

The real estate giant said that introducing property sales will revolutionize the real estate market in Dubai. Besides, cryptocurrencies also bring convenience and optionality to property developers worldwide. Speaking to Kahleej Times, Ali Sajwani, general manager of operations at Damac said:

“This move towards customers holding cryptocurrency is one of our initiatives to accelerate the new economy for newer generations, and for the future of our industry. It is crucial for global businesses like ours to stay at the top of evolution. Offering yet another transactional mode is exciting, and we are glad to recognise the value this technology brings to our customers.”

As said, Dubai is becoming the most-preferred destination for crypto innovation due to its crypto-friendly laws and taxation. As a result, companies across sectors have been open to accepting crypto payments. Dubai’s delivery startup YallaMarket also added that they will start accepting crypto payments.

Cryptocurrencies and Real Estate

The gap between the crypto market and the real estate market has been bridging faster than expected! Previously, many people had to first convert their crypto into USD for buying houses. However, the scenario has likely changed.

There are new companies and startups in the market that will enable real estate buyers to a mortgage with their crypto. Thus, users can now directly keep their digital assets as collateral and avoid any capital gains tax during the conversion process.

This has happened as the crypto market continues to mature with time and people are gaining more trust in digital assets. However, with crypto being largely volatile, the buyer might have to put more money aka digital assets as collateral in case of a crash. Below is a Bloomberg report explaining the dynamics of the game.

New home loans are deepening the role of volatile digital assets in the real estate market. Bloomberg News Bureau Chief and Senior Editor Kara Wetzel explains

More: https://t.co/ydusLyL1gb pic.twitter.com/WuogdgUmyB

— Bloomberg Crypto (@crypto) April 28, 2022