I had that same post awhile ago and others saw it as well. It's a glitch of sorts where the chest is supposed to be on a floating platform. Nothing good inside it though.
when I first played this game I saw a sword in the stone that was close to Temple of time, I got so excited thinking it was the Master Sword... I was so disappointed
Happened to me just yesterday. I was quite confused. Managed to open it mid-air though, royal halberd +13 dmg, and then... iventory full and I lost it. Next one only had a normal one. I was sad.
I think it's an error with the spawn placement and the slope. I really appreciate the almost freaky-real physics this game has, but sometimes it's annoying when you pull a chest out of the ground and it goes bouncing down a cliff and into a lake...