The explanation for CMC not ranking Hive is much more mundane. CMC has a list of points that a coin must meet in order to give it a normal ranking in addition to just simply calculating the market capitalization. Up until now Hive has not met one of the points:

The asset is traded on at least three non-decentralized exchanges that possess a number of the following attributes...

Hive was only listed on two exchanges that qualify for the ranking (there are other criteria that must be met). It's just a matter of time and we shouldn't read much into it.