Coinmarketcap rankings are based on a number of factors, including total market capitalization, trading volume, and circulating supply. This means that coins with high market capitalization and high trading volumes tend to rank higher than those with lower market capitalization and lower trading volumes. It is also important to note that the rankings are updated regularly, so a coin that is ranked higher one day may not be the same the next day.
HEX is a relatively new coin, and although it has a high market capitalization of over 4 billion, it is likely that its trading volume is not as high as other coins, which is why it is ranked lower. Additionally, HEX has a unique feature of locking tokens, which could also be a factor in why it is ranked lower.
$UP is a new coin on the Tezos network, and it has some similarities to HEX, but it does not have the same locking feature. Its game-theory is also different from HEX, which could be why it is not ranked as high. However, as $UP continues to be listed on more exchanges and its trading volume increases, it is likely that its rankings will improve. Additionally, as more people become aware of $UP and its features, its market capitalization will likely increase, further improving its rankings.