It hasn't absorbed the yolk. That is a glitch, especially if it too that long to hatch. It may yet absorb the yolk or that may dry up and fall off. Thay may rupture and drain. The chick is in some danger, it may be fine or it may not.
I've never had one hatch like that. I've seen varying suggestions. Some say to put some oil on it to keep it moist. Some say to put it in a cup it can't get out of to keep it from walking around and snagging that on something and to inhibit other chicks from pecking it.
Good luck with it.