According to Aristotle, Thales thought that the earth rests on water:
This [opinion that the earth rests on water] is the most ancient explanation which has come down to us, and is attributed to Thales of Miletus (Cael. 294 a28-30).
By using this idea/law Thales was able to explain earthquakes; earthquakes happen because of the fluctuation in water on which earth rests.
This is the only phenomenon which, I found, was explained by the law of floating Earth. Are there any other phenomena which are explained by this 'watery' law? If yes, then please also post sources. If not, then why?
Thales, as the legends say, was a genius, who predicted solar eclipse (I don't believe this), became rich by his knowledge of astronomy. Then why did he believe the idea that 'earth rests on water' by just one phenomenon which he explained by it? It doesn't seem justifiable that a genius like Thales believed in a trivial law just because it can explain a single phenomenon!