Relating to or capable of floating; having the nature or quality of something that floats.
From float (Old English flotian) + -ive (Latin suffix -ivus meaning 'having the quality of'). This rare variant of floatative uses the same Latin morpheme to create a technical or literary adjective.
The -ive ending appears in many English adjectives like 'active,' 'native,' and 'creative'—it's a Latin import that's so deeply embedded in English that adding it to almost any word instantly sounds somewhat formal or technical.
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