This depends on what the material is floating or sinking in.
If an object in water that has a higher density than water will sink, but if it has a lower density it will float.
For example, water has a density of 1.00 g/mL so if you put something with a density higher than 1 g/mL into it it will sink, but if the material you put in it has a density lower than 1 g/mL it will float.
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A substance will float in a liquid if its density is lower than that of the liquid. Density is defined as the mass per unit volume.
If an object sinks it means that its density is higher than the density of the liquid. Objects that appear to be suspended within the liquid near the surface have density that is very close to the density of the liquid.