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Facts: -'The Eye' can be found using the coordinates: 34°15'07.8'S 58°49'47.4'W
-Island is shaped like a perfect circle and is said to rotate on its own axis
-Some alien hunters believe it is the top of an underwater alien base
-Film crew and experts raising funds to study the island and shoot a movie
It is fairly obvious what is happening (no, it’s not an alien base as some have suggested). When you have a floating island and a water current that flows along one side of it, it will naturally rotate and become circular over time, as well as carving out a circular hole. The phenomenon is quite rare, because the conditions must be just right. Floating islands of plants are themselves quite rare, but in addition, it requires a current, though a fairly slow moving one. There is a special type of floating island that is very common and that is ice. The phenomenon does occur with ice, as you can see in the YouTube videos below: